The powerful Rupiah Recently, here is the reason!

Jakarta – The Bank of Indonesia (BI) revealed that the exchange rate of the rupee, recently stable, is even strengthening against the US dollar (US).

The Governor of the Bank of Indonesia, Perry Warjiyo, said throughout 2018 that the exchange rate of the rupee had fallen against the US dollar.

"Even though there is still a pressure of depreciation, the rupee's exchange rate is relatively well maintained in 2018 and has recently strengthened," Perry said at the annual meeting. Bank of Indonesia (PTBI) at CPC, South Jakarta, Tuesday (11/27/2018).

According to Perry, the stable exchange rate of the rupee against the US dollar was supported by a reduction in the current account deficit to a more secure level.
In addition, maintaining the stability of the financial system and the acceleration of bank credit growth that continued in 2019 also had a positive impact on the rupee exchange rate.

"In 2019, we expect the rupee movement to evolve steadily according to the market mechanism," he said.

As we know, the rupee has recently strengthened against the US dollar. Even rupiah is the strongest in Asia.

Citing the RTI trade data on Monday (26/11/2018), the rupee exchange rate rose yesterday by 55 points or 0.38% against the US dollar.

The rupiah is also strengthened against the euro. The rupee increased 34 points, or 0.21%, to reach 16.441 rupees.

The Singapore dollar is the next weakest currency against the rupee. The value of the rupee against the Singapore dollar rose 30 points, or 0.28%, to reach the level of 10,552 rupees.

The rupiah is also strengthened against the Japanese yen. The value of rupiah against the Japanese yen rose 1 point or 0.58%.

The value of the rupee on the Australian dollar also increased 12 points, or 0.10%, to reach the level of 10,500 rupees. Then, on the Chinese yuan, the rupiah strengthened 7 points, or 0.33%, to reach the level of 2,088 rupees. (hek / zlf)