Weakening of rupiah is only temporary

JAKARTA: The weakening of the Indonesian rupiah will only be temporary, Bank Indonesia senior deputy governor Mirza Adityaswara told Reuters on Thursday.

The weakening was a result of the country's coming presidential elections in July, Adityaswara said.

"The trade deficit is also weakening the rupiah," he said. Sliding exports pushed Indonesia's trade balance into its second-biggest monthly deficit in five years in April, a surprise that renewed pressure on the fragile rupiah.

The rupiah is currently trading at around 11,890 to the dollar.

It has lost about 5 percent against the dollar since March but remains around 2 percent stronger this year.