Tuesday, 24th October 2017

Bank Indonesia called on to control rupiah fluctuation

13th July 2012 | 2.737 Views
Jakarta (ANTARA News)- Noted businessman Sofyan wanandi called on Bank Indonesia, the country`s central bank, to control rupiah fluctuation.

The chairman of the Association of Indonesian Businessmen (Apindo) said sharp and frequent fluctuations of the currency would affect the market.

The fluctuation should not be too sharp, he said, adding a range of 9,000-9,800 per US dollar could still be tolerated.

Too low value of the rupiah will push up the prices weakening the competitiveness of local manufactured goods, he said here on Friday.

Exporters will gain but on the contrary, importers will lose if the rupiah declined in value, he said.

Currently the rupiah hovers around 9,400 per US dollar, but tended to weaken over the past week

Based on data from the central bank, the rupiah had continued to be depressed in the second quarter of this year.

Economist Latif Adam from the Indonesian Institute of Science (LIPI) said the central bank should intervene to keep the rupiah from fluctuating sharply.(*)