- Dharma
VIVAnews – The government needs to anticipate the danger of the global crisis by strengthening the national economy. One of the steps is by preventing Rupiah from depreciating too low.
“Bank Indonesia must soon utilize its foreign exchange reserves so that Rupiah’s exchange rate is maintained,” said former Head of Fiscal Policy Anggito Abimanyu when contacted by Vivanews.com in Jakarta, Sunday.
He said that BI’s measure to buyback state bonds SUN and state commercial paper SBN is apt. BI’s forex reserves is large and able to lift Rupiah’s exchange rate.
Unfortunately, Anggito viewed, BI’s measure to implement export reserves was late. “BI should have done it long back,” he said.
With the intervention using forex reserves which amounted to US$120 billion, according to him, Rupiah’s exchange rate would not depreciate down to 10,000 against the US dollar. “Bi’s forex reserves are quite large,” he said.
Last Friday, BI absorbed SUN state bonds in order to intervene Rupiah. Of the turnover target of Rp1.4 trillion, BI gained Rp321 billion.
From the turnover of the bid, Rupiah’s exchange rate went up and was closed at the level of 8.780 against the US dollar. However, the condition did not last long. Today Rupiah fell again and was traded at the level of 9.030 against the US Dollar.
Based on Reuter’s transaction data, Rupiah’s weakest exchange rate was made on July 1, 1998. Then the rate dropped to Rp16,800 against US dollar.
After the 2008 crisis was over, Rupiah was steady at the level of 10,000. Yet, in November 2008, the global crisis that hit some of the countries in the world made Rupiah to go up to Rp12,200.
Rupiah appreciated again on August 1, at the level of Rp8,455, the highest since August 1, 2001 when it hit Rp8,200 against US dollar.
Apindo Sebut Keputusan MK Beri Kepastian Investasi dan Ekonomi
Apindo menyatakan keputusan Mahkamah Konstitusi (MK) soal sengketa Pilpres membawa angin segar bagi perekonomian RI, baik dari sisi investasi dan dunia usaha.
