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The US dollar exchange rate continues to weaken against the rupiah. This afternoon, the US dollar exchange rate is getting closer to Rp. 14,200.
Quoting Reuters on Monday (3/11/2018), at 12:30 a.m. the exchange rate of the US dollar against the rupiah was at the level of Rp. 14,215. This morning, the US dollar exchange rate was at Rp. 14,235.
The weakening of the US dollar continues to occur in the past one month. If it is withdrawn one month back, the rupiah recorded an increase of 4.96% against the US dollar.
The weakening trend in the US dollar in particular looks significant in the past week. The weakening trend in the US dollar is expected to continue to occur to touch the level of Rp. 13,000.
President Joko Widodo (Jokowi) considered this because of the return of foreign capital flows to Indonesia. Investors began to believe again in the economic condition of the Republic of Indonesia.
"What we want to build is trust, trust. We build fiscal and monetary measures very carefully. I hear that the capital inflow has returned," he said at the 2018 CEO Networking event at the Ritz Carlton Hotel.
If Indonesia has regained the confidence of foreign investors, Jokowi believes the rupiah will continue to strengthen. Although the government does not want to strengthen the rupiah too much to maintain the momentum of the export push.
"Yes, don't be surprised if the US dollar continues to fall. You don't know how much. But we also don't want the dollar to drop dramatically, because we still want to benefit from our exports," he said.
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