BI says rupiah unlikely to strengthen past 11,600 in 2014

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Asean Affairs 5 June 2014

BI says rupiah unlikely to strengthen past 11,600 in 2014

Bank Indonesia (BI) has predicted the rupiah would be traded between 11,600 and 11,800 per US dollar throughout the 2014 fiscal year.

BI Governor Agus Martowardojo said that the assumed range was based on pressures in the country's current account.

"Deficit in the current account is strongly related to the rupiah rate against the US dollar," Agus said in Jakarta on Tuesday on the sidelines of a hearing at the House of Representatives as quoted by kontan.co.id.

He said that Indonesia's current-account deficit reached US$29.09 billion last year or equal to 3.33 percent of the country's Gross Domestic Product (GDP).

In addition to that, the central bank data showed the current account suffered a deficit of $4.19 billion in the first quarter of 2014, or 2.06 percent of GDP.

With this condition, he said that the government had to change the rupiah trading assumption in the 2014 state budget of Rp 10,500 per dollar.

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AseanAffairs 04 January 2011
By David Swartzentruber

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

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