KONTAN.CO.ID - JAKARTA. Pressure on Indonesia's rupiah is expected to be temporary, a senior Bank Indonesia (BI) official said on Thursday, adding the currency is expected to strengthen to reflect its fundamental value later in the year. Edi Susianto, who heads the central bank's monetary management department, told Reuters in an interview BI would prioritise policies that support the market mechanism and he sees no need for capital controls. The rupiah hit its weakest since April 2020 on Wednesday, as many currencies globally came under pressure amid a continuing rally in the U.S. dollar.
Indonesia Central Bank Expects Pressure on Rupiah to be Temporary
KONTAN.CO.ID - JAKARTA. Pressure on Indonesia's rupiah is expected to be temporary, a senior Bank Indonesia (BI) official said on Thursday, adding the currency is expected to strengthen to reflect its fundamental value later in the year. Edi Susianto, who heads the central bank's monetary management department, told Reuters in an interview BI would prioritise policies that support the market mechanism and he sees no need for capital controls. The rupiah hit its weakest since April 2020 on Wednesday, as many currencies globally came under pressure amid a continuing rally in the U.S. dollar.