Jakarta: Bank Indonesia Governor Perry Warjiyo said the rupiah can appreciate to below Rp14 Thousand per US Dollar The prediction is based on the country's stable economic growth and controlled inflation.
"There is still room for the currency to appreciate," he said at his office in Jakarta on Friday, November 1, 2019.
"The rupiah stood below Rp14 thousand per USD several times," he added.
According to Perry, the rupiah stood at around IDR13,920 per USD in January-February. After previously falling to around Rp14,500 per USD, the rupiah appreciated to around IDR13,900 per USD in June-September.
Moreover, capital inflows into the country increased to IDR217.04 trillion at the end of October 2019. The capital entered Indonesia in the form of government debt Papers worth IDR165.2 trillion and shares worth Rp49.9 trillion.
"The market mechanism is developing well regarding supply and demand," he concluded.