Bank Indonesia called on to control rupiah fluctuation
Fri, July 13 2012 21:30 | 1520 Views
Jakarta (ANTARA News)- Noted businessman Sofyan wanandi called on Bank Indonesia, the country`s central bank, to control rupiah fluctuation.
The fluctuation should not be too sharp, Sofyan wanandi said, adding a range of 9,000-9,800 per US dollar could still be tolerated.
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.(*)
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