Dian Kusumo
IDXChannel – Bank Indonesia for the current year recorded that the rupiah exchange rate up to October 19/2022 had depreciated by 8,03 percent. Governor Bank Indonesia Perry Warjoyo said the weakening of the rupiah was due to pressure on the strengthening of the dollar, but they ensured that the rupiah was still better than other Asian contries.
Meanwhile, the depreciation of the currencies of a number of developing countries in Asia was recorded at 10,42 percent in India, Malaysia by 11,75 percent and Thailand 12,55 percent.
Perry explained, that the depreciation was in line with the strengthening of the USD and increasing uncertainty on global financial market due more aggressive monetary policy tightening in various countries.
For this reason, Bank Indonesia will ensure that it will promote rupiah stability in accordance with market mechanisms.
"And the withdrawal of capital from various countries to the United States amid the weakening economy and high inflation in Europe. At the same time, the high uncertainty of global financial markets continues. Moving forward, Bank Indonesia will continue to strengthen rupiah exchange rate stabilisation policy in line with market mechanisms and fundamental value to support efforts to control inflation and macroeconomic stability," Perry said.
