Sun, 19 Sep 2010
Jakarta (ANTARA News) - Bank Indonesia (BI) Governor Darmin Nasution said here on Friday that the present rupiah exchange rate was still competitive for the national economy compared to those of the currencies of neighbouring countries.

"The argument that our competitiveness has declined because of the rupiah`s appreciation is not valid because the currencies of other countries have appreciated even more," he said.

He said until Friday the exchange rate of the rupiah was Rp8,980 against the US dollar while its yearly average is still at Rp9,130 or it has only appreciated by 4.8 percent since early this year.

"That is the same as that of Philippine Peso but is smaller than Thai Baht which is 7 percent and Malaysian ringgit 8 percent," he said.

Darmin admitted BI had bought US dollars to make the rupiah remain stable and its volatility not to big.

He said the view of some ministers that the rupiah was no longer competitive for trade was not correct because the rupiah was not alone.

Regarding the assumption for the rupiah exchange rate in the 2011 draft budget which is set at Rp9,300 per US dollar Darmin said that the government did not wish to weaken the rupiah but based upon the results of calculation made along with BI, the high inflation next year could lower the value of the rupiah.

"The fact is if the capital from abroad keeps flowing in certainly the rupiah will not be able to stand at that level (Rp9,300 against the US dollar)," he said.

The huge flow of foreign capital into Indonesia coupled by the depreciation of the US dollar against other currencies recently have made the rupiah value to appreciate to Rp8,900.

Several ministers however felt that the appreciation was too high and therefore could disrupt domestic industrial exports.



News Search/Filter
Transaction Rates
16 Jul 18
Buy
Sell
AED1
3,885.59
3,885.59
AFN1
197.13
197.13
ALL1
132.07
132.07
AMD1
29.71
29.71
ANG1
7,737.95
7,737.95
AOA1
56.07
56.07
ARS1
523.34
523.34
AUD1
10,587.37
10,587.37
AWG1
7,977.57
7,977.57
AZN1
8,382.91
8,382.91
BAM1
8,597.43
8,597.43
BBD1
7,135.95
7,135.95
BDT1
170.35
170.35
BGN1
8,527.92
8,527.92
BHD1
37,673.06
37,673.06
BIF1
8.05
8.05
BMD1
14,271.91
14,271.91
BND1
10,557.71
10,557.71
BOB1
2,066.07
2,066.07
BRL1
3,706.12
3,706.12
BSD1
14,271.91
14,271.91
BTC1
90,685,884
90,685,884
BTN1
208.52
208.52
BWP1
1,387.71
1,387.71
BYN1
7,250.59
7,250.59
BZD1
7,102.86
7,102.86
CAD1
10,847.07
10,847.07
CDF1
8.84
8.84
CHF1
14,239.87
14,239.87
CLF1
602,953.63
602,953.63
CLP1
21.92
21.92
CNH1
2,128.19
2,128.19
CNY1
2,131.53
2,131.53
COP1
4.98
4.98
CRC1
25.16
25.16
CUC1
14,271.91
14,271.91
CUP1
559.68
559.68
CVE1
150.86
150.86
CZK1
643.68
643.68
DJF1
80.17
80.17
DKK1
2,235.98
2,235.98
DOP1
287.64
287.64
DZD1
121.22
121.22
EGP1
797.33
797.33
ERN1
944.25
944.25
ETB1
517.07
517.07
EUR1
16,670.30
16,670.30
FJD1
6,801.03
6,801.03
FKP1
18,877.66
18,877.66
GBP1
18,877.66
18,877.66
GEL1
5,827.53
5,827.53
GGP1
18,877.66
18,877.66
GHS1
2,982.26
2,982.26
GIP1
18,877.66
18,877.66
GMD1
298.17
298.17
GNF1
1.57
1.57
GTQ1
1,904.82
1,904.82
GYD1
68.48
68.48
HKD1
1,818.41
1,818.41
HNL1
595.33
595.33
HRK1
2,254.66
2,254.66
HTG1
213.82
213.82
HUF1
51.54
51.54
IDR1
1.00
1.00
ILS1
3,916.28
3,916.28
IMP1
18,877.66
18,877.66
INR1
208.35
208.35
IQD1
11.97
11.97
IRR1
0.33
0.33
ISK1
133.13
133.13
JEP1
18,877.66
18,877.66
JMD1
109.37
109.37
JOD1
20,115.36
20,115.36
JPY1
126.97
126.97
KES1
141.71
141.71
KGS1
208.91
208.91
KHR1
3.52
3.52
KMF1
33.81
33.81
KPW1
15.85
15.85
KRW1
12.62
12.62
KWD1
47,087.25
47,087.25
KYD1
17,131.87
17,131.87
KZT1
41.66
41.66
LAK1
1.69
1.69
LBP1
9.42
9.42
LKR1
89.51
89.51
LRD1
89.33
89.33
LSL1
1,073.00
1,073.00
LYD1
10,413.92
10,413.92
MAD1
1,507.64
1,507.64
MDL1
854.90
854.90
MGA1
4.23
4.23
MKD1
270.41
270.41
MMK1
10.03
10.03
MNT1
5.85
5.85
MOP1
1,766.12
1,766.12
MRO1
40.14
40.14
MRU1
398.43
398.43
MUR1
416.08
416.08
MVR1
926.74
926.74
MWK1
19.71
19.71
MXN1
754.95
754.95
MYR1
3,522.62
3,522.62
MZN1
242.14
242.14
NAD1
1,072.99
1,072.99
NGN1
39.58
39.58
NIO1
450.45
450.45
NOK1
1,757.53
1,757.53
NPR1
130.34
130.34
NZD1
9,651.87
9,651.87
OMR1
37,079.05
37,079.05
PAB1
14,271.91
14,271.91
PEN1
4,365.12
4,365.12
PGK1
4,339.96
4,339.96
PHP1
266.44
266.44
PKR1
117.32
117.32
PLN1
3,865.05
3,865.05
PYG1
2.50
2.50
QAR1
3,919.96
3,919.96
RON1
3,579.00
3,579.00
RSD1
141.27
141.27
RUB1
228.27
228.27
RWF1
16.42
16.42
SAR1
3,805.48
3,805.48
SBD1
1,813.35
1,813.35
SCR1
1,054.02
1,054.02
SDG1
790.76
790.76
SEK1
1,604.61
1,604.61
SGD1
10,449.03
10,449.03
SHP1
18,877.66
18,877.66
SLL1
2.26
2.26
SOS1
24.69
24.69
SRD1
1,913.63
1,913.63
SSP1
109.56
109.56
STD1
0.67
0.67
STN1
675.75
675.75
SVC1
1,631.64
1,631.64
SYP1
27.69
27.69
SZL1
1,072.33
1,072.33
THB1
428.46
428.46
TJS1
1,554.20
1,554.20
TMT1
4,077.70
4,077.70
TND1
5,401.38
5,401.38
TOP1
6,184.77
6,184.77
TRY1
2,938.85
2,938.85
TTD1
2,118.24
2,118.24
TWD1
466.69
466.69
TZS1
6.27
6.27
UAH1
544.28
544.28
UGX1
3.84
3.84
USD1
14,271.91
14,271.91
UYU1
454.92
454.92
UZS1
1.82
1.82
VEF1
0.17
0.17
VND1
0.62
0.62
VUV1
130.69
130.69
WST1
5,521.26
5,521.26
XAF1
25.41
25.41
XAG1
225,719.93
225,719.93
XAU1
17,714,779.99
17,714,779.99
XCD1
5,280.90
5,280.90
XDR1
20,009.07
20,009.07
XOF1
25.41
25.41
XPD1
13,436,561.47
13,436,561.47
XPF1
139.69
139.69
XPT1
11,830,950.74
11,830,950.74
YER1
56.99
56.99
ZAR1
1,075.85
1,075.85
ZMW1
1,441.30
1,441.30
ZWL1
44.27
44.27
Taxation Exchange Rates
31 Aug 16 - 06 Sep 16
USD 1
13,232.00
AUD 1
10,043.30
CAD 1
10,213.70
DKK 1
1,999.40
HKD 1
1,706.22
MYR 1
3,283.28
NZD 1
9,623.63
NOK 1
1,605.23
GBP 1
17,433.70
SGD 1
9,757.68
SEK 1
1,569.45
CHF 1
13,631.10
JPY 100
13,101.00
MMK 1
11.01
INR 1
197.29
KWD 1
43,920.70
PKR 1
126.23
PHP 1
285.00
SAR 1
3,528.53
LKR 1
91.12
THB 1
382.08
BND 1
9,756.53
EUR 1
14,885.50
CNY 1
1,987.61

Okusi Associates: Indonesian Business & Management Services