Rupiah Exchange Rate to Continue Strengthening
Thursday, 27 April, 2006 | 15:00 WIB

TEMPO Interactive, Jakarta: Bank of Indonesia's Senior Deputy Governor, Miranda Goeltom, predicts that the strengthening of the Rupiah will continue.

“We'll see. If the market still regards Indonesia as interesting, of course the funds will continue to enter, so there is still potential for the Rupiah rate to strengthen,” Miranda told the press yesterday (26/4).

The Rupiah's strengthening, according to her, is also supported by the possibility of the flow of funds from external sources, including the pension fund of California Public Employees Retirement Systems.

This is the biggest retirement fund management in the United States.

“If they join in, a lot of other pension funds will, too. They also state that Indonesia's growth is positive.”

The entry of external funds can be seen from the rise of Indonesia's foreign currency reserves to US$41 billion and the strengthening of stock price index.

Suryani Ika Sari