Agus called on the public and market players to remain calm while emphasizing that Bank Indonesia would continue monitoring the development closely and keeping the rupiah exchange rate stable in line with the economic fundamentals.Jakarta (ANTARA News) - Bank Indonesia Governor Agus Martowardojo said the present rupiah exchange rate was still parallel with the country`s economic fundamentals.
He said in the past few days the rupiah exchange rate had moved to a new equilibrium that reflects Indonesia`s economic fundamentals.
"Today the foreign exchange market is getting more excited with better market mechanism," he said in his press statement issued in the bank`s website here on Tuesday.
Agus called on the public and market players to remain calm while emphasizing that Bank Indonesia would continue monitoring the development closely and keeping the rupiah exchange rate stable in line with the economic fundamentals.
The rupiah traded at Rp10,120-Rp10,265 per US dollar on Tuesday and was closed at Rp10,180/Rp10,220 per dollar.
The rupiah`s depreciation was caused among others by dollar appreciation and increasing demand for foreign currencies by corporate/retail customers for repatriating dividends and investment results.
From its initial position in 2013 (year to date) the rupiah exchange rate has depreciated 5.71 percent which is still in line with the depreciation of the currencies of other countries in the region, he said.(*)
Editor: Heru Purwanto
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