On Friday (August 29), the rupiah had closed weaker by 147 points, or 0.90 percent, at Rp16,500 per US dollar, compared with Rp16,353 the previous day.
During an online working meeting with the Regional Representative Council (DPD) on Tuesday, Perry stressed that BI continues to safeguard currency stability, monetary stability, and financial market stability.
“The rupiah, which yesterday morning touched Rp16,560, thankfully today we stabilized at Rp16,400. We will strive to push it lower to Rp16,300 and even stronger beyond that,” Perry said.
He added that liquidity has been boosted, financial markets are functioning well, and financial system stability remains secure through coordination with the Ministry of Finance, the Financial Services Authority (OJK), and the Deposit Insurance Corporation (LPS).
Perry noted that Indonesia’s external resilience and the rupiah’s outlook remain positive and stable. This is supported by a sustained trade surplus, favorable foreign capital inflows, and ample foreign exchange reserves amounting to 152 billion US dollars.
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To maintain stability, BI has also intervened in the market through Non-Deliverable Forward (NDF) transactions in offshore markets, as well as spot and Domestic Non-Deliverable Forward (DNDF) operations in the domestic market.
He reaffirmed BI’s commitment to ensuring that the rupiah stays stable and continues to strengthen in line with improving economic fundamentals, a persistent trade surplus, ongoing foreign capital inflows, and sufficient foreign reserves.
Protests began on Monday (August 25) in front of the parliament building in Jakarta, with demonstrators raising several demands, including the issue of lawmakers’ housing allowances.
The death of online motorcycle taxi driver Affan Kurniawan, who was struck by a police tactical vehicle on Thursday night (August 28), further fueled public anger.
Tensions escalated in the following days, with incidents of violence, arson, and the destruction of public facilities spreading beyond Jakarta to several other cities.
After closing weaker on Friday (August 29), the rupiah rebounded by 28 points, or 0.17 percent, to Rp16,472 per US dollar at the opening of trading on Monday (September 1).
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Translator: Primayanti
Editor: M Razi Rahman
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