Minister Rini: State enterprises "protect" against the weakening of the rupee

Banyuwangi (ANTARA News) – Minister of Social Affairs Rini Soemarno said that state-owned companies operating in foreign currency are ready to use the hedging facilities following the weakening of the rupee by compared to the US dollar

. The hedging instruments that can be used among public companies through exchange facilities, to help manage financial risks, "said Rini Soemarno during his working visit to Jember and Banyuwangi, East Java, Sunday

. on the BUMN side which exports and imports because it requires and receives foreign currency in the form of foreign currency

The proceeds of the hedge transaction include the term swap, the swap, the option, the currency swap and interest rate swap. one of the state-owned enterprises that daily use large amounts of foreign currency, ie PT Pertamina (Persero) which reaches about 150 million dola Moreover, the public enterprises receiving foreign exchange earnings Foreigners include PT Aneka Tambang Tbk (Persero), PT Bukit Asam Tbk (Persero), PT Timah Tbk (Persero), PT PGN Tbk (Persero), PT Pupuk Indonesia Tbk (Persero), PT Pelindo II (Persero) and Garuda Indonesia [19659002] "Coverage facilities for public enterprises that require foreign exchange for imports, but on the other side of many state-owned enterprises earn dollars." Export results. "Rini did not mention how much of time the government's ability to provide the hedge facility is destined.

He only explained that the hedge scenario was managed by BUMN in 2016, when the rupee against the US dollar dropped sharply to the level of Rp14 , 500.

"It is we see how long the US dollar is strengthening. He added that what needs to be preserved now is the ability of SOEs to support each other, so that financial performance should remain healthy

. last month's rupiah exchange rate tended to weaken, reaching its lowest level since mid-December 2015.

The rupee exchange rate between the portfolios in Jakarta, Friday ( 29/6), was 14,330 Rp per US dollar. Bank Indonesia sees the weakening of the rupee especially after the long vacation of Lebaran 2018 that can still be "understood" because of the tightening of financial market pressures following the expectations of four times the rise in interest rates of the Federal Reserve

Tasrief Tarmizi
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