"For Indonesia, the recent rupiah depreciation is normal, according to us. We, however, continue to monitor the situation," Agus Martowardojo said.Jakarta (ANTARA News) - Bank Indonesia Governor Agus Martowardojo has said the recent depreciation of the rupiah is normal and there is no need for people to become concerned.
"For Indonesia, the recent rupiah depreciation is normal, according to us. We, however, continue to monitor the situation," he said when asked for his comment on the rupiahs fall at the BI Complex here on Friday.
He pointed out that global economic developments were behind the rupiahs fall. "There is nothing to worry about. The fall is in reaction to global economic developments following the Federal Open Market Committee meeting and improving conditions in America, which have affected all countries," he added.
Agus said the rupiah exchange rate has been very volatile in the past few months, appreciating in October and depreciating in November.
"We believe that the exchange rate has been partly driven by investors who have engaged in profit-taking," he noted.
He added that while the central bank had no specific exchange rate target for the rupiah, it would try to ensure that the exchange rate reflected Indonesias economic fundamentals. He also pledged to maintain financial stability in the country.
The rupiah traded at 11,706 against the dollar on Friday, slipping from 11,561 last week. (*)
Editor: Heru Purwanto
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