REPUBLIKA.CO.ID, JAKARTA -- Chief Economic Minister Darmin Nasution said on Friday that speculative efforts made in response to global economic development had kept the Rupiah from appreciating, but it had rebound during the last few days.

"We tend to buy U.S. dollars and speculate on what has happened during the past few weeks and it seems they have now stopped, which has given an opportunity to the rupiah to appreciate," he stated.

He further said the appreciation of the country's currency after depreciating for the past few months had provided an opportunity to businesses to start their ventures again.

Darmin pointed out that the rupiah's appreciation had happened in concurrence with the issuance of the government's package of economic policies, which could give certainty to businessmen regarding the nation's future economic prospects.

"This will offer opportunities to businesses to take a decision regarding their ventures. So what we have done through the economic policy packages should be responded to as an incentive to start again," he said.

Darmin said despite the rupiah?s appreciation, the government had remained cautious with regards to the rupiah's movement and global economic conditions because the problem was not yet settled at least until certainty over the Federal Reserve's interest rate hike is confirmed.

"We remain alert. It does not mean it is all settled. The world's economic problems are not yet settled. So, do not conclude that it is settled. However, the tendency is good," he stated.

Bank Indonesia had earlier said it would continue monitoring closely the external economic development although the rupiah had appreciated significantly during the past few days.

"We will see. We hope the recovery will continue, but we must keep watching external factors from the United States and others," the central bank's Senior Deputy Governor, Mirza Adityaswara said.

Based on BI's Jisdor (Jakarta Inter-Bank Spot Dollar Rate) rate, the rupiah exchange rate was recorded at Rp13,521, appreciating from Rp13,809 the day before or from Rp14,604 four days ago.

The rupiah was up 439 at inter-bank transactions to Rp13,448, compared with Rp13,887 against the U.S. dollar on Friday evening.

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