JAKARTA - Perry Warjiyo, Governor of Bank Indonesia in a press conference today said that the rupiah exchange rate strengthened amid uncertainty in global financial markets that have not yet fully subsided.
The Rupiah exchange rate on 20 September 2021 strengthened by 0.94% on average and 0.18% point-to-point compared to the August 2021 level. The strengthening of the Rupiah exchange rate was driven by positive perceptions of the outlook for the domestic economy, maintained domestic foreign exchange supply, and Bank Indonesia's stabilization measures.
With these developments, the Rupiah as of September 20, 2021 still recorded a depreciation of 1.35% (ytd) compared to the level at the end of 2020, relatively lower than the depreciation of currencies of a number of other developing countries, such as Malaysia, the Philippines and Thailand.
Bank Indonesia continues to strengthen the Rupiah exchange rate stabilization policy in accordance with its fundamentals and the operation of market mechanisms, through the effectiveness of monetary operations and the availability of liquidity in the market. (LM)