President Jokowi: It is Different With 1998: Do Not Be Too Worry in Facing Weakening of Rupiah
Date 18 Desember 2014
President Joko Widodo (Jokowi) revealed that the weakening of rupiah exchange rate recently is not worrying fundamentally since all countries also experience the same.
We can see that if our country is compared with Japan, Malaysia or even Russia, we are still in the great position, Jokowi said it while leading the Specific Cabinet Meeting for Economy in the Presidential Office Jakarta, on this morning (Wednesday).
According to the President, actually this opportunity (the strengthening of US dollar) should be used to encourage our industries. The industries should get incentive therefore the export-oriented industries can go faster in order to get benefits from this weakening position of rupiah exchange rate, he said.
President Jokowi wanted to have the same thought with Bank Indonesia and Financial Services Authorization (OJK) therefore this rupiah weakening will not be responded with a lot of anxieties or worries.
All countries experience this, and do not compare it with 1997 and 1998 because the condition is different. I had been through that time by myself, Jokowi said.
As reported earlier, along with the currency weakening of other countries, the rupiah exchange rate has been weakening in these recent several days. The latest was on yesterdays trade, according to the middle rate of Bank Indonesia rupiah exchange rate was noted at Rp 12.900 per US dollar.
The Specific Cabinet Meeting of Economic Field was attended by Vice President Jusuf Kalla, Minister of State Secretariat Pratikno, Cabinet Secretary Andi Wijayanto, Coordinating Minister for Economic Affairs Sofyan Djalil, and Head of National Development Planning Agency Andrinov Chaniago. (Humas Setkab/ES)