"It is alright. I saw it was still at Rp11,900 yesterday. So, when dynamic happens it will still be in line with the Indonesian economic fundamentals," BI Governor Agus Martowardojo said.Jakarta (ANTARA News) - Bank Indonesia Governor Agus Martowardojo called on the people here on Thursday not to worry about current rupiah depreciation.
"It is alright. I saw it was still at Rp11,900 yesterday. So, when dynamic happens it will still be in line with the Indonesian economic fundamentals," he said when met at the central bank compound for his comment on current rupiah depreciation.
Based on Bank Indonesias JISDOR exchange rate reference the Indonesian currencys exchange rate was recorded at Rp12,030 against the US dollar on Thursday down from Rp11,908 on Wednesday.
The Federal Open Market Committee meanwhile had earlier decided that the Fed would still maintain its interest rate but it would be changed in stages from 1.125 percent to 1.375 percent.
This condition, according to Agus, has been responded differently by market players in the world and one of the reactions was reduction of portfolio by converting the long-term to short-term.
"The response has affected the world. We have seen depreciation in the regional as well as Indonesia markets. That is normal," he said.
Agus said Bank Indonesia has already anticipated the current global economic conditions since six months ago and therefore he called on financial market players at home to not panic.
"I want people remain calm as the condition is the effect of global conditions," he said.(*)
Editor: Heru Purwanto
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