JAKARTA: Following the fluctuating rupiah in the past several days, the Indonesian currency eventually reached its highest value in April 2020, when its rate was previously recorded in the range between 15,430 and 15,295 against US dollar.
According to him, the central bank would continue to maintain and stabilize the value of rupiah at the current position or even higher by intervening in the spot market and buying state bonds on the secondary market. The indicators also include the prediction of the current account deficit which could be below 1.5 percent of the gross domestic product in the first quarter of 2020, or lower than that in the previous estimation of 2.5 percent to 3 percent of the GDP.
A number of observers from several companies in the country agreed with Bank Indonesia and the government that the Indonesian currency would remain to stay at 15,000 rupiahs against US dollar or even stronger. According to him, the market has appreciated the government's policy on prohibiting people from return to their hometowns for celebrating the Muslims' post-fasting festivity Ied-al-Fitr.
And we dream MYR can rise too.