JAKARTA (Yosefardi) – Rupiah reached Rp11,642 against the US Dollar, but closed at Rp11,377 Monday (Sept 9). While central bank, Bank Indonesia (BI), said rupiah’s mid range was Rp11,188 against the US Dollar.
BI might, on demand from market players and observers, raise again BI Rate, from current 7%, to protect the rupiah from falling further. BI governors schedule to hold meeting on Thursday (Sept 12).
While The Fed is expected to make a clearer direction on its stimulus policy in third week of this month. Fed’s stimulus policy will affect the dollar.
Meanwhile, Commission XI of House of Representative (DPR) urges the revision on Law No. 24/1999 regarding on foreign exchange and currency system for strengthening the fundamental of national economy. DPR views that current law is too liberal.