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Indonesian Central Bank Projects Rupiah Stable at 13,420 This Year with Surplus in Current Account
 

The central bank of Indonesia, Bank Indonesia, has estimated rupiah relatively stable at the average of 13,200 per U.S. dollar this year with the country's current account performance recording a 9 billion U.S. dollar surplus.

Deputy Governor of Bank Indonesia, Mirza Adityaswara, disclosed on Monday that a rapid inflow of capitals and external condition, particularly economic condition in the United States which has led to weakening of the U.S. dollar, partly factored to the figure.

Mirza said the country's current account performance may witness a 9 billion U.S. dollar surplus this year and a 6 billion U.S. dollar surplus for next year.

Indonesia, whose major exported products are commodities, has recorded surpluses in trade performance in recent months amid rising global fuel prices.

That contributes to the hike of the lender's foreign exchange reserve to a record of 128.8 billion U.S. dollars in August from 127.8 billion U.S. dollars in July.

Securing credit rating upgrade to investment grade from S & P Global rating amid sound macro-economic condition has lured more capital inflows into the country.


(www.chinaview.cn 2017-09-12)
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