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Indonesia central bank expects rupiah trading at 14,200-14,600 this year

  • Warjiyo also repeated that the central bank's policy will be geared towards supporting an economic recovery and that interest rates will be kept low until there is an early sign of rising inflation.
31 May 2021

JAKARTA: Indonesia's central bank expects the rupiah to trade on average between 14,200 to 14,600 a dollar for the remainder of the year, and 14,100 to 14,500 a dollar in 2022, Governor Perry Warjiyo told parliament on Monday.

The governor said the forecast already took into account potential tightening next year of US monetary policy, which may include the Federal Reserve tapering its bond buying programme or rate hikes that could prompt capital outflows. The rupiah traded at 14,275 at 0805 GMT.

Warjiyo also repeated that the central bank's policy will be geared towards supporting an economic recovery and that interest rates will be kept low until there is an early sign of rising inflation.