"This is not a problem, the cause is the US economy is recovering strongly. The impact is not only on rupiah but on all other currencies," chief economics s minister Sofyan Djalil said here on Wednesday.
Sofyan said rupiah still fares batter than most other currencies, adding only Swiss Franc gained over the US dollar.
However, the government would continue taking steps to prop up rupiah such as by improving investment climate, boost exports and attracts more tourists to the country, he said.
"If we succeeded in attracting more tourists that would bring in dollar to the country the condition would improve. Facility will also be improved for Indonesian migrant workers to increase their remittance," he added.
Earlier deputy governor of Bank Indonesia Perry Warjiyo said theere are a number of factors sending the US dollar soaring lately.
Among the factors include improved condition of the USE economy, the Feds plan to raise its fund rate and monetary liquidity injection by the European Central Bank and Bank of Japan.
Ferry said rupiah is weakening against the US dollar but strengthening about 11 percent over euro and yen.
Another factor is the countrys current account deficit, he added.
Meanwhile the rupiah value in interbank transaction lost more value trading at the level of 13,218 per dollar from earlier level of 13,083 per dollar.
Financial market observer from Bank Himpunan Saudara, Rully Nova, said speculation that the Fed would raise its fund rate earlier than expected still weigh on rupiah .
The pressure on rupiah is stronger with expectation that Bank Indonesia would cut its benchmark interest rate (BI rate) lower after recent cut from 7.75 percent to 7.5 percent at present.
He predicted the rupiah would lose more value when the Fed finally decided to raise its fund rate , but after the impact began to fade, rupiah would return to its normal position to follow the countrys economic fundamental.
Currently the countrys economic fundamental is still fairly good and the macro economic targets such as economic growth target of 5.7 percent for 2015 are still within reach, he added.
Other macro economic targets include inflation 5 percent and rupiah exchange rate at 12,500 per dollar.(*)
Editor: Heru Purwanto
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