REPUBLIKA.CO.ID, NUSA DUA - Governor of Bank Indonesia (BI) Agus Martowardojo said that rupiah fell as a response to the Federal Reserve’s policy. Rupiah is closer to its psychological threshold of 10,000 IDR per USD on Thursday.
"It's because the market responded to the Federal Reserve’s policy that will reduce bond purchase program. It also because an increase in corporate demands towards USD in the end of the month," Martowardojo said on Thursday.
Martowardojo said rupiah weakened to more than 9,800 IDR per USD and BI intervened to keep the exchange rate in accordance with economic fundamentals. BI would continue to maintain public confidence in rupiah and ensured availability of liquidity.
President Director of Bank Mega, Kostaman Thayib said people should not worry about the weakening of rupiah. that could trigger a crisis as it did in 2008. He predicted the rupiah against USD would not reach 12,000 IDR per USD.
An economist, Agustinus Prasetyantoko, believes that BI has prepared some measures to overcome the weakening of rupiah. More important thing is the attitude towards Indonesia's balance of payments that is still deficit 6.6 billion USD in first quarter of 2013.
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