ID :
27137
Tue, 10/28/2008 - 19:52
Auther :
Shortlink :
http://m.oananews.org//node/27137
The shortlink copeid
GOVT TO ISSUE POLICY TO SHORE UP RUPIAH
Jakarta, Oct 28 (ANTARA) - President Susilo Bambang Yudhoyono said the government would on Tuesday issue a policy to prevent the rupiah's exchange rate from continuing to weaken.
On Tuesday afternoon, the rupiah's exchange rate dropped to 11,800 against the US dollar, he said.
"Because today the rupiah has fallen to more than Rp11,000, we are immediately going to take the measures which have been studied by Bank Indonesia (the central bank) and Finance Minister Sri Mulyani," President Yudhoyono said at a press conference at his office on Tuesday.
The president said the government had to issue the policy because the rupiah could not be stabilized only through efforts to intervene in the money market.
"The policy is not always counter-productive if the rupiah is weakened by other fundamentals, and then those fundamentals cannot not be overcome through money market operations," the president said.
According to the president, the government should take swift and correct action to overcome the impact of the global financial crisis on the country's economy with the smallest possible risk.
"The objective of the policy is to save the country's people and the state budget, although we have to take the risk," he said.
On Tuesday afternoon, the rupiah's exchange rate dropped to 11,800 against the US dollar, he said.
"Because today the rupiah has fallen to more than Rp11,000, we are immediately going to take the measures which have been studied by Bank Indonesia (the central bank) and Finance Minister Sri Mulyani," President Yudhoyono said at a press conference at his office on Tuesday.
The president said the government had to issue the policy because the rupiah could not be stabilized only through efforts to intervene in the money market.
"The policy is not always counter-productive if the rupiah is weakened by other fundamentals, and then those fundamentals cannot not be overcome through money market operations," the president said.
According to the president, the government should take swift and correct action to overcome the impact of the global financial crisis on the country's economy with the smallest possible risk.
"The objective of the policy is to save the country's people and the state budget, although we have to take the risk," he said.
