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Indonesian peer-to-peer lending platform KoinWorks said in a statement on Monday that it has received an investment from US-based venture capital firm Quona Capital. “We’re very happy we could collaborate with Quona as one of our investors,” said Benedicto…
A lawmaker and an industry analyst have called on the government to scrap its export tax on crude palm oil to help improve the competitiveness of the sector and boost exports, amid a weakening rupiah. Since 2015, the Indonesian Oil Palm Estate Fund (BPDPKS),…
The value of the rupiah has stabilized in recent days as the domestic supply of dollars has increased due to inflows from returning investors and more exporters converting their earnings, Bank Indonesia Governor Perry Warjiyo said on Friday (21/09). “The…
Indonesia’s foreign exchange reserves slipped around $400 million in August to $117.9 billion, Bank Indonesia said last Friday, partly because of the central bank’s intervention to defend the rupiah. The rupiah has lost around 9 percent of its value so far…
Indonesia is bracing for prolonged pressure on the rupiah amid souring emerging market sentiment exacerbated by Argentina’s economic woes, Finance Minister Sri Mulyani Indrawati said on Monday (03/09), as the local currency plumbed its weakest levels since…
Vice President Jusuf Kalla said Indonesia must impose stricter measures to ensure that dollars earned from exports remain in the country for longer, amid the continuous depreciation of the rupiah, which has been among the worst performers in Asia this year.…
Bank Indonesia has done more than any Asian peer to defend its currency amid a global rout in emerging markets, but the fact that the rupiah has kept slipping suggests the central bank would struggle to maintain the pace in a prolonged battle. Like many…
Over the past couple of decades, Indonesian companies have developed a tried and tested strategy to cope with the periodic plunges in the rupiah: retain dollars to protect their profits. But their behavior can add to downward pressure on the currency,…
Indonesia’s central bank on Thursday (17/05) hiked its benchmark interest rate for the first time since November 2014, as expected, in a bid to bolster the fragile rupiah. Bank of Indonesia (BI) raised the 7-day reverse repurchase rate by 25 basis points to…
Bank Indonesia expects the rupiah to continue to strengthen and currency market volatility to subside as market price in expected US Federal Reserve’s interest rate hikes, a senior official said on Wednesday (14/03). “The fundamental level of an exchange rate…
The rupiah climbed 20 bps this morning at the Jakarta Interbank Spot Dollar Rate. The rupiah now trades for Rp13,278 per US dollar, from what analysts said to be the impact of Indonesia’s foreign exchange (forex) reserves’ increase. Samuel Sekuritas economist…
The rupiah exchange rate at the Jakarta Interbank Spot Dollar Rate this morning fell by 8.0bps to trade for Rp13,332 per US dollar. The rupiah is corrected along with most Asian currencies. “Rupiah weakens along with Asian currencies depreciation against the…
There is a new regulation issued by Bank Indonesia (BI) on the carrying of foreign banknotes into and outside the country. This regulation is set forth in Bank Indonesia Regulation (PBI) No 197/7 / PBI / 2017 dated May 5, 2017. This regulation arranges that…
Reza Priyambada, a senior analyst of PT Binaartha Sekuritas, predicts that the rupiah will extend its gain. The rupiah is expected to move to around a support level of Rp13,385 and resistance level of Rp13,327. “Recent strengthening of the rupiah may open the…
Bank Indonesia (BI) has kept its 7-days reverse repo rate at 4.75 percent. Other monetary benchmark rates such as deposit facility rate and lending facility rate have also been kept at 4 and 5.5 percent. “The decision was made by BI to preserve domestic…
Indonesia’s central bank is widely expected to keep its benchmark policy rate unchanged on Thursday as it monitors the rupiah’s movement at a time of global uncertainty and price pressures at home. Bank Indonesia (BI) cut its benchmark six times last year, by…
