REPUBLIKA.CO.ID, JAKARTA -- Minister of Finance Bambang Brodjonegoro calms the market by saying that rupiah's weakness against dollar is only temporary. He stated that he had predicted that the local currency would rebound.

Rupiah today gains to 12,538 IDR per USD after almost hitting 13,000 IDR per USD, the lowest since the last 16 years. "Rupiah's weakness is part of temporary global phenomena," Brodjonegoro said on Thursday, December 18.

Rupiah is gaining after Chairwoman of the Federal Reserve Janet L. Yellen said that the Fed still expected to start raising interest rates next year, but that it would wait patiently for the right time and did not expect to begin any earlier than late April. "Yellen's statement makes the market back to normal position," Brodjonegoro said.

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