REPUBLIKA.CO.ID, JAKARTA -- President Joko 'Jokowi' Widodo asked business to take the advantage from rupiah's weakness against dollar by boosting export. The Indonesian currency hits 16-year low as investors position their money for US Federal Reserve which will start to raise interest rate next year.
Based on Jakarta Interbank Spot Dollar Rate (JISDOR), rupiah today gains to 12,720 IDR per USD after it hit 12,900 IDR per USD on Tuesday.
"We have to give incentive for export-oriented industry so that they can move faster and take the advantage from rupiah's weakness," Jokowi said during economic meeting in Presidential Palace on Wednesday, December 17.
The president said that rupiah was not the only currency sliding against the US dollar. He claimed that Indonesia was far stronger than other countries like Japan, Malaysia and Russia. Yet, he promised to stem the currency's slump by cooperating with Bank Indonesia (BI) and Financial Service Authority (OJK).
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