Compared to many Asian currencies that have been affected by the appreciation of the US dollar, the condition of the Indonesian rupiah is still better.Jakarta (ANTARA News) - Bank Indonesia Senior Deputy Governor Mirza Adityaswara said here on Friday that the current depreciation of the rupiah was at a normal level and in line with the countrys economic fundamentals.
"Even the yen has depreciated by fifteen percent and the Malaysian ringgit by six to seven percent. So, if the rupiah depreciates by around two percent, it is still normal," he noted.
According to him, the US dollar is strengthening against the currencies of most of the other countries due to improving economic conditions in that country.
Compared to many Asian currencies that have been affected by the appreciation of the US dollar, the condition of the Indonesian rupiah is still better.
"Almost all currencies are depreciating against the US dollar. So, there is nothing strange in the rupiahs performance. If other currencies depreciate and only the rupiah appreciates, that will be strange," he added.
He remarked that although the rupiah has been corrected, the correction has been at a relatively normal level, and this, even when the central bank keeps monitoring the market.
"BI has always been monitoring the market to ensure that the rupiah fluctuation is balanced. What is happening now is a global trend and so it is alright," he stressed.
According to the Jakarta Interbank Spot Dollar Rate (JISDOR), the rupiah was traded at Rp12,432 against the US dollar on Friday or down by Rp310 compared to Rp12,122 on November 24.(*)
Editor: Heru Purwanto
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