Indonesia central bank governor, finance minister to hold Tuesday news conference on weak rupiah

[JAKARTA] Indonesia's central bank governor, finance minister, and chief financial regulator will hold a news conference about the weakening rupiah at 11 am (0400 GMT) on Tuesday, a government official said.

The rupiah tumbled to a near 17-year low on Monday, down 0.7 per cent to 13,070 per dollar, after stronger-than-expected US jobs data boosted expectations that the Federal Reserve may raise interest rates in the middle of this year.

The news conference "will be about recent economic conditions, including about the rupiah," said a finance ministry official who declined to be named because he was not authorized to speak to the media.

Bank Indonesia spokesman Peter Jacobs could not confirm what will be discussed at the news conference.

Central bank governor Agus Martowardojo last week said the rupiah was in good condition and Bank Indonesia was not worried about its decline.

Bank Indonesia officials have said the weak rupiah was mainly a consequence of a broadly stronger dollar, noting that the rupiah has actually appreciated against several other currencies this year.

The Indonesian currency is the worst performing emerging Asian currency so far this year, with a 5.21 per cent loss against the dollar, Thomson Reuters data showed.

REUTERS