Bank of Indonesia expects temporary pressure on the rupiah

The Bank of Indonesia (BI) said today (September 29) that the Indonesian rupiah is likely to come under temporary pressure, with the rupiah gaining value in line with its fundamental value in the next part of this year.

BI will favor policies that favor market forces and does not recognize the need for capital controls.

The rupiah fell yesterday (Sept. 28) to its lowest level since April 2020 as currencies around the world are under pressure from the continued appreciation of the dollar.

The BI expects the rupiah exchange rate to recover to a higher level. This reflects Indonesia’s strong economic growth prospects this year.

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