Rupiah as a commodity<\/p>\n
The Bank for International Settlements' 67th annual report
\nconcerning the rupiah, merely reasserts a reality that has
\nexisted in the financial market for quite some time. The rupiah
\nhas become a profit-yielding, tradable currency. Several
\nprestigious financial establishments have even opened an
\nIndonesian desk to keep a close eye on this country.<\/p>\n
The fact that the rupiah is now an exotic currency finds its
\norigin in the government's consistent monetary policy. This has
\nprovided solid ground for speculators and others who are active
\nin the money market to reap profits from the rupiah as a trading
\ncommodity.<\/p>\n
But the rupiah's popularity in the money market has several
\nimplications. Our monetary authority must be ready to deal with
\nspeculators whose actions are profit-oriented. At the same time,
\nit must be ready to deal with actions that are aimed at
\nundermining its authority. The fact is that, in general, those
\nspeculators control highly sophisticated tools for analysis and
\ntechnology as well as huge amounts of funds.<\/p>\n
What can we do in response to such a development? First of
\nall, it is fundamental to strengthen our economy. Second, we must
\nmuster the political will to respond with appropriate measures
\nunder any circumstances. Finally, we must be careful in airing
\nviews that can be exploited by unprincipled investors.<\/p>\n
It is fortunate that our monetary authority has already
\nestablished cooperation with government-owned banks in several
\nAsian countries as a preventive measure to guard against
\nspeculators. This will provide an effective shield in the case of
\nsuch offensives.<\/p>\n
-- Bisnis Indonesia, Jakarta<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/rupiah-as-a-commodity-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }