DPR Urges Public to Exchange US Dollars to Strengthen Rupiah

Jakarta (ANTARA) - Deputy Speaker of the Indonesian House of Representatives (DPR RI) Sufmi Dasco Ahmad has urged members of the public holding US dollars to exchange them for rupiah so that the rupiah exchange rate can strengthen further. He stated that the Government has prepared various strategies to make the rupiah appreciate again. Accordingly, he advised the public to exchange their US dollars now before the value drops in the future. “Because if the rupiah strengthens next week, it would be a pity to keep holding dollars. That is my appeal,” Dasco said at the parliamentary complex in Jakarta on Thursday. According to him, the strengthening of the rupiah and the Composite Stock Price Index (IHSG) is due to growing confidence in the current government. This, he said, has an impact on the market and on the strengthening of the rupiah exchange rate. “This week and in the coming weeks, there are special strategies that will be implemented by the government, which I have heard about and believe will cause the exchange rate or the rupiah to strengthen,” he said. Permata Bank Chief Economist Josua Pardede assessed that the rupiah’s strengthening coincides with easing concerns over Indonesia’s fiscal prospects. “Concerns over Indonesia’s fiscal prospects have eased alongside the weakening of global oil prices, while the government’s decision to adjust the price of Pertamax fuel has also helped reduce pressure on the fiscal balance,” he told ANTARA in Jakarta on Thursday. This development is seen as reinforcing expectations that the fiscal deficit will be more manageable, thereby providing support for both the rupiah and the domestic bond market.