Rupiah Considered as One of The Best Currency in Asia – Bank Indonesia

Bank Indonesia stated that Rupiah considers as one of the best currencies in Asia today. Especially among developing Asian countries.

“Far below us are Thailand, Malaysia, and Singapore, which have exchange rate depreciation of up to a dozen percent, while we are only in the range of 1.3% to 1.6%,” said Deputy Governor of Bank Indonesia (BI) Dody Budi Waluyo, Monday. (6/12/2021) quoted from okezone.

Thus, he hopes that significant changes in the rupiah exchange rate will not occur and the central bank can continue to maintain the stability of Indonesia’s currency. So far, Indonesia has been able to show the market that all parties can stabilize the rupiah exchange rate.

As for now, Indonesia has been able to show the market that all parties can stabilize the rupiah exchange rate.

“Don’t look at the level before, at IDR 13 thousand, now at IDR 14 thousand, but please look at the volatility and in terms of the movement of the rupiah exchange rate,” said Dody. Therefore, the current stable rupiah exchange rate, he said, could prevent domestic inflation from spiking too high like in other countries.

For the record, the rupiah exchange rate was at Rp14,442 per US dollar on Monday (6/12) afternoon trading. This position weakened 22 points or 0.16 percent from Rp. 14,420 per US dollar on Friday (3/12).

Dody also believes that inflation can also be controlled because domestic producers are able to withstand spikes in domestic commodity prices so that they are not reflected in consumer prices.

“Thus, this is our strategy without having to change the benchmark interest rate policy in maintaining inflation, but still being carried out carefully,” he said.

Source: CNN, okezone