"Foreign exchange transactions rose 40 percent-50 percent in the past week, mostly selling the US dollar," APVA Chairman Muhamad Idrus said here on Monday night.
Most of the foreign exchange sellers are investors in financial market, Indrus said.
"They apparently think that now is the time to sell dollar, but there were very few buying the currency," he said.
He said foreign exchange traders reaped big profit from the increase in transactions.
"We are happy with the big profit but we also hope the government could bring back the economy to a normal condition," he said.
He hoped that the stimulus package announced by the government last weekend would help prop up rupiah.
"Now the people are clamer in facing rupiah fall. They are no longer easily panicked . When the country faced similar condition in the past the people got panicked and spent almost all their rupiah on US dollar," he said.(*)
Editor: Heru Purwanto
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