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JAKARTA (Reuters) – Indonesia’s Finance Minister Sri Mulyani Indrawati said on Tuesday the rupiah exchange rate will remain stable, although it tends to rise due to pressure on the dollar.
Sri Mulyani Indrawati made the comments as the chairperson of the Indonesian Financial System Stability Committee, which is comprised of the Ministry of Finance, the Central Bank, the Financial Services Agency, and the Deposit Insurance Corporation.
The rupiah was trading at 15,808 rupiah as of 2:51 a.m. (GMT) on Tuesday, its lowest level in more than two months.
Confidence in the Indonesian rupiah has waned in the past two weeks, with local media reporting that Minister Sri Mulyani may resign ahead of the February 14 presidential election, weighing on the country’s fiscal outlook. There are growing doubts about this.
In response, the ministry said Sri Mulyani “continues to carry out the duties of state financial management.”
Bank Indonesia Governor Perry Warjiyo said at the same press conference that he expects the rupiah to appreciate in the second half of 2024.
Sri Mulyani also expects Indonesia’s domestic production growth to be around 5% last year.
(Reporting by Stefano Sulaiman; Editing by Martin Petty)
Copyright 2024 Thomson Reuters.
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