University of Indonesia economist Lana Soelistianingsih fundamentals rupiah remained weak partly because of the high demand for foreign exchange for the payment of foreign debt even if the debt is still safe .
" These conditions make the rupiah will greatly depend on the management of foreign exchange reserves , " said Lana in banking journalist workshop in London on Saturday .
He said as of September 2013, the external debt position recorded 259.9 billion U.S. dollars, up from the previous quarter 257.3 billion dollars . The amount is made up of government debt of 113.8 billion U.S. dollars , or 43.7 percent of total external debt .
While private sector debt amounted to 136.7 billion U.S. dollars, or 52.6 percent of total external debt and bank debt of 22.4 billion U.S. dollars .
Lana said demand for foreign currency will still be high enough to pay the debt . Government and private debt payments from January to September 2014 recorded 25.7 billion U.S. dollars or 2.9 billion U.S. dollars per month .
" In addition there is a payment assets reached 21 billion U.S. dollars per year , and there is the possibility of outflow due to tapering plan the Fed , " said Lana .
He explained that the pressure on the exchange rate from domestic and external . Among other domestic demand large amounts of U.S. dollars , the negative sentiment because Indonesia is facing the twin deficits , and foreign exchange markets are shallow .
He mentioned the exchange rate depreciation since late 2011 when it was in position around 9,000 per U.S. dollar to currently around Rp12.000 per U.S. dollar .
Lana said the move by Bank Indonesia ( BI ) to create stability in the exchange rate is the central bank has a good reputation and consistent policy .
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