DPR Says Destry the Right Figure to Replace Perry in Guarding Rupiah Exchange Rate

Jakarta - Deputy Speaker of Commission XI of the Indonesian House of Representatives (DPR RI) Mohamad Hekal stated that the appointment of Destry Damayanti as acting Governor of Bank Indonesia (BI) is the correct decision in accordance with statutory regulations. Hekal explained that according to the law, the vacant position of BI Governor must be filled by the Senior Deputy Governor. If the Senior Deputy Governor position is vacant, it must be replaced by the longest-serving BI Deputy Governor. “But in this case, Ibu Destry has been appointed as Senior Deputy Governor. And we await the next process, namely the President’s proposal to the DPR for a maximum of three names to fill the definitive governor position,” Hekal said during the Power Lunch programme on CNBC Indonesia TV on Monday. Hekal noted that regarding the impact of this leadership transition, he observed that financial markets have tended to remain calm. The rupiah and the Composite Stock Price Index (IHSG) did experience slight declines, but all within relatively normal limits. He assessed that Destry’s position replacing Perry to lead BI is quite ideal because exchange rate movements have been under her supervision. “And if we look at it, especially regarding the exchange rate, the person responsible for guarding the exchange rate at BI has been Ibu Destry. So, with Ibu Destry now serving as acting Governor, I think it is very fitting for maintaining the rupiah exchange rate against other currencies,” he said. “So, I believe her appointment is indeed a requirement of the law.”