Rosan Says Market Perception Turning, Rupiah and IHSG Become the Test

JAKARTA - The government views the recent strengthening of the rupiah and the stock market as a sign that market perception is improving.

Minister of Investment and Downstreaming/Head of the Investment Coordinating Board (BKPM) and Head of BPI Danantara, Rosan Roeslani, stated that this strengthening did not happen on its own. It resulted from a series of policies, coordination with Bank Indonesia, support from a swap agreement with China, and direct communication with global investors.

A swap agreement is a currency exchange cooperation scheme between countries. This scheme can help maintain liquidity availability when the market is under pressure.

“If we had done nothing, this strengthening would not have occurred,” Rosan said at the Presidential Palace Complex on Monday, June 15.

Rosan had just reported to President Prabowo Subianto on the results of Danantara’s roadshow to several countries. During the roadshow, Danantara offered its inaugural global bonds.

As a result, investor demand reached approximately US$4.6 billion. The issuance value was subsequently increased from the initial plan of US$1 billion to US$1.5 billion.

He acknowledged there were previously doubts about the Indonesian economy and government policies. However, after direct explanations, investor perception is said to have begun shifting towards a positive outlook.

Rosan also assessed that the stock market correction had made the prices of several Indonesian companies cheaper. Foreign investors see this as an entry opportunity, particularly for issuers with strong fundamentals and good dividends.

However, the market does not move in a straight line. Rosan reminded that daily fluctuations remain normal.

What is important now is not just maintaining green charts. The government must ensure that the policies sold to investors are also felt by business actors, workers, and households domestically.