ID :
30318
Fri, 11/14/2008 - 19:21
Auther :
Shortlink :
http://m.oananews.org//node/30318
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VP : RUPIAH`S FLUCTUATIONS DUE TO EXTERNAL FACTORS
Jakarta, Nov 14 (ANTARA) - Vice President Jusuf Kalla said the current fluctuations in the rupiah's exchange rate against the US dollar were caused by external factors.
Therefore, whether the rupiah's would become more stable depended on improvements in the global economy, Kalla said here Friday.
"They (fluctuations) happen due to external factors. It is not only happening to the rupiah but also to Thailand's bath, Malaysia's ringgit and Australia's dollar," he said commenting on the continuing depreciation of the local unit against the US dollar.
The weakening of liquidity in the US had driven up the US dollar's exchange rate. All US dollars abroad were returning to the US causing the amount of the US currency in international markets to fall, he said.
"Now it all depends on the US economic situation," he said.
Asked what his prediction was on the rupiah's exchange rate in the future, the vice president said nobody was now able to make a prediction.
"It is hard to predict how this will develop. However, I believe a new state of balance will gradually be achieved, depending on the speed of developments in the US," he said.
Therefore, whether the rupiah's would become more stable depended on improvements in the global economy, Kalla said here Friday.
"They (fluctuations) happen due to external factors. It is not only happening to the rupiah but also to Thailand's bath, Malaysia's ringgit and Australia's dollar," he said commenting on the continuing depreciation of the local unit against the US dollar.
The weakening of liquidity in the US had driven up the US dollar's exchange rate. All US dollars abroad were returning to the US causing the amount of the US currency in international markets to fall, he said.
"Now it all depends on the US economic situation," he said.
Asked what his prediction was on the rupiah's exchange rate in the future, the vice president said nobody was now able to make a prediction.
"It is hard to predict how this will develop. However, I believe a new state of balance will gradually be achieved, depending on the speed of developments in the US," he said.
