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TEMPO.CO, Jakarta – The Institute for the Development of the Economy and Finance (INDEF) expects the government to launch a budget buzz for overcome the weakening of the rupiah. "Up to now, the currency has increased the benchmark interest rate, but from the economy there has been no breakthrough," said Indiaf researcher Bhima Yudhistira in Tempo, Friday, July 20, 2018.
For example, is to provide income tax (PPh) export duties for export-oriented industries. In addition, the government can also make improvements to the infrastructure of tourism support to increase foreign exchange earnings.
Rupiah Weaken, Manufacturing Industry Threatened by Competitiveness
Bhima calls Indonesia Bank and the Government in the future needs to improve coordination. "So mutual monetary and fiscal support," he said. Meanwhile, for the central bank, the measures that can be made are measurable foreign exchange reserves and maintain the liquidity of foreign currencies.
The exchange rate of rupiah has again weakened. Based on the Jakarta Interspot Dollar Bank Indonesia exchange rate, the rupiah exchange rate reached 14.520 Rp on the US dollar on Friday, July 20, 2017 at 12.21 WIB
Thus, the rupiah reached its lowest level this week. The exchange rate of the rupee has opened at 14.396 Rp for the US dollar earlier this week on Monday 16 July 2018. The exchange rate has briefly strengthened to 14,391 Rp on Tuesday 17 July 2018.
However, the next day, the exchange rate continued to Rp 14.406 level per US dollar. On Thursday, July 19, 2018, the rupee returned to the level of Rp. 14,418 per US dollar.
The Board of Governors of the Central Bank announced its policy of keeping interest rates at 5.25%. Previously, BI raised interest rates by 100 basis points over the last two months
Read: The Governor of the BI called the overvaluation of the Rupiah exchange rate, Is it? "Pushed by Macroprudential Policy"
Despite strong pressure on the rupee today, Peryy said the current interest rate is enough to make the return of financial instruments attractive on the domestic market and bring back foreign investors to the country
The current global economic pressure on Indonesia, said the governor of BI, stems most largely from the development of trade wars in China and the United States. From January 2018 to July 18, 2018, the rupee fell by 5.8% (year to date / year)
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