Bank Indonesia (BI) Governor Agus Martowardojo projected the rupiah to move between Rp11,600 and Rp11,800 per US dollars this year.
His prediction took into account both internal and external factors, including China's plummetting economic growth from an average rate of 10.4 percent to 7.1 percent.
The slowdown would prompt China, Agus said, to focus to consumption instead of invesment. "The focus swift will have quite an impact on Indonesia and China's other trading partners," Agus said on Wednesday, May 21.
Agus said that commodity prices also play a role in him making said projection. "As it turned out, most commodity prices in the first quarter of 2014 have declined," he said.
To prevent the rupiah from depreciating further, Agus said the central bank will focus on narrowing the trade balance and the current account deficits. BI, he said, will also work on maintaining the inflation rate, which is pegged at 4.5 percent this year, plus/minus one percentage point.
Source : Tempo
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