Rupiah Affected by External Factors: Jokowi

Achmad Zulfikar Fazli    •    05 September 2018 17:07 WIB
indonesian economy (en)
Rupiah Affected by External Factors: Jokowi
President Joko Widodo (Photo:Medcom/Lis Pratiwi)

Jakarta: President Joko "Jokowi" Widodo on Wednesday said the weakening of rupiah is mainly affected by external factors.

"We are currently threatened by numerous external factors," the former Jakarta governor said.

The rupiah surpassed Rp14,900 per dollar earlier this week. It hit its lowest level since the 1998 financial crisis.

"This situation is not only experienced by Indonesia," the media-savvy politician added.

Jokowi earlier instructed his economic team to reduce Indonesia's current account deficit. He also mulled various measures to increase the country's exports.

According to the Central Statistics Agency (BPS) Indonesia recorded a trade deficit of $2.03 billion in July 2018. Besides that, the country posted a current account deficit of $8 billion (3.0% of GDP) in the second quarter of 2018.