BI Rupiah Rises 0.8%

Bank Indonesia (BI) noted the weakening Rupiah restricted August 2016. However, berhail rebounded in September 2016.

The rupiah in August 2016, on average, depreciated by 0.39 per cent and reached the level of USD 13 163 per USD, said BI Governor Agus Martowardojo in Jakarta Bank Building, Thursday (22/09/2016).

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He said the weakening of the rupiah is more influenced by external sentiment related to the timing of post -FOMC minutes FFR rise in July 2016. However, in mid September 2016 the rupiah rebounded by 0.8 percent.

Strengthening, he continued, driven by increasing capital inflows, in line with the easing sentiment associated timing FFR rise in September 2016 and the continued implementation of the Law on Tax Forgiveness.

Looking ahead, Bank Indonesia will continue to maintain exchange rate stability in accordance with its fundamental value, said Agus.

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