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Saturday, November 30, 2013

Finance Minister Chatib Basri : IDR relatively better


Finance Minister Chatib Basri : IDR relatively better

Finance Minister Chatib Basri said the value of the rupiah against the U.S. dollar is relatively better , after the closure Friday afternoon , back in the positive area or rose to the position of Rp11.965 per U.S. dollar .

"Today, the rupiah was relatively better but still have to watch out for this situation , " he said in Jakarta , Friday ( 29/11 ) .

Chatib said in recent days had been a weakening of the rupiah against the U.S. dollar , but the government and Bank Indonesia always coordinated to address these conditions .

According to him , there are two causes that lead to the depreciation of the rupiah is concern over the " tapering off " and increased demand for foreign exchange by the end of the routine .

He describes concerns over the withdrawal of monetary stimulus from the Fed ( Federal Reserve ) is an external factor , which in addition to dollars , has led to the weakening of currencies in other Asian countries .

" Yesterday was not only rupiah weakened , but including also Peso ( Philippines ) and Baht ( Thailand ) , " he said .

However, he said, the increased demand for foreign currencies are internal factors due to high interest payments on debt obligations of corporations towards the end of the year .

" Towards the end of the year the company must make debt payment obligations and the possibility of import payments , so that as of November to be paid the amount reached 6.3 billion dollars , " he explained .

According Chatib , in the face of the current volatility of the rupiah , one of the government's attempts to do is to press the current account deficit .

To that , he added , the implementation of the economic policy package that was published in August and the new economic policy package to be announced in December , becomes important .

" Implementation of the policy package is very important , we are happy progress related policy package is quite good . Next week , we publish FMD related to imports , income tax article 22 and KITE facility for increasing exports , " said Chatib .

Rupiah against the U.S. dollar on Friday afternoon , was back in the area rose to a position of positive or Rp11.965 per U.S. dollar from its previous position Rp12.027 per U.S. dollar , although overshadowed by the issue of current account deficit Indonesia .

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