Indonesia's central bank sees rupiah trading at 13,700-13,900 per dollar on average in 2016
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[JAKARTA] Indonesia's rupiah currency is expected to trade at an average of between 13,700 and 13,900 per dollar in 2016, the central bank governor told parliament on Tuesday.
Bank Indonesia Governor Agus Martowardojo told a budget hearing that the currency would remain under pressure this year but that it would recover afterwards.
"The market perception will improve caused by the government's deregulation package and BI's stabilisation policy," Mr Martowardojo said.
The central bank governor predicted a rupiah exchange rate of around 14,000 per dollar in the fourth quarter of 2015 and the first quarter of 2016.
"In the second half of 2016, the perception of Indonesia will improve," he said.
The rupiah dropped to a 17-year low of 14,500 to the dollar on Tuesday and is the worst performing currency in the region this year after Malaysia's ringgit.
Navigate Asia in
a new global order
Get the insights delivered to your inbox.
REUTERS
Share with us your feedback on BT's products and services
TRENDING NOW
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Beijing’s calculated silence on the Iran war
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Vietnam formalises new state leadership, redefining ‘four pillars’ power balance
