Trade Minister: No Need to Worry about Weakening of Rupiah
- vstory
Jakarta – Indonesian Trade Minister Zulkifli Hasan urged the public not to worry about the weakening of exchange rate of the Rupiah against the USD. Bank Indonesia (BI) will implement effective policies to address this issue.
"There will be policies issued by Bank Indonesia, and our foreign exchange reserves are powerful. So, there's no need to worry too much," said Minister Hasan on Thursday.
He even requested that the public trust various rupiah stabilization policies to the authorities such as the Ministry of Finance and Bank Indonesia (BI).
"We entrust those with authority to handle the changes in the exchange rate. The Minister of Finance and the Governor of BI have conveyed that we don't need to worry," Minister Hasan remarked.
Menteri Perdagangan, Zulkifli Hasan, di acara Halalbihalal 2024 yang digelar di Kantor Kementerian Perdagangan, Jakarta, Kamis, 25 April 2024.
- VIVA.co.id/Mohammad Yudha Prasetya
The minister explained that when the rupiah weakening, there's usually two different reactions from exporters and importers.
According to Minister Hasan, exporters are said to be pleased with the depreciation of the Rupiah, while importers, on the other hand, will complain.
"There are indeed two sides. Exporters are happy, but importers complain. Regulating in between is what the authorities will do,"
It's known that the exchange rate of the rupiah against the US dollar in the spot market weakened in Thursday (April 25). The rupiah weakened by 38 points or 0.23 percent to reach IDR16,192 per USD.
Based on the last Jakarta Interbank Spot Dollar Rate (JISDOR) reference rate or yesterday afternoon, the rupiah was pegged at IDR16,161 per USD.
