Exports unaffected by rupiah's rise: Rini<\/p>\n
The Jakarta Post, Jakarta<\/p>\n
Minister of Industry and Trade Rini MS Soewandi said on Wednesday
\nthat the country's exports would remain competitive despite the
\nsharp rise in the value of the rupiah against the U.S. dollar.<\/p>\n
\"Exports will remain competitive,\" she was quoted by Dow Jones
\nas saying.<\/p>\n
She added that even if the local unit strengthened to Rp
\n8,500, exports would still be competitive.<\/p>\n
She did not elaborate.<\/p>\n
She made the statement following an earlier report in this
\npaper quoting exporters as saying that the sharp appreciation of
\nthe local unit would make their products more expensive in the
\nexport market compared to products from competitor countries
\nwhose currencies have not appreciated as fast as the rupiah.<\/p>\n
\"If the rupiah strengthens to beyond Rp 9,000, we'll be in
\ndifficulties,\" Anton J. Supit, head of the Indonesian Footwear
\nAssociation (Aprisindo), said.<\/p>\n
Anton cautioned that if the rupiah strengthened too fast, the
\nshoe export target of around US$1.5 billion this year would be
\ndifficult to achieve.<\/p>\n
An executive with a local electronics maker warned that if the
\nrupiah strengthened to beyond Rp 8,500, the country's electronics
\nexports would be badly hit.<\/p>\n
The rupiah has been on the rise since the beginning of this
\nyear. The local unit breached the psychologically important level
\nof Rp 9,000 Monday. The currency is now hovering at its nine-
\nmonth highs of around Rp 9,025.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/exports-unaffected-by-rupiahs-rise-rini-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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