Rupiah strengthens to Rp9,295/9,300 on Wednesday afternoon

"We are optimistic that the rupiah will continue to strenthen to approach the rate of Rp9,250 against the US dollar," he said.

Sinaga said BI`s target to lower the rupiah`s rate to below Rp9,300 against the US dollar was met.

"We want to see how long the rupiah can stay below Rp9,300 to the dollar after the government increased fuel oil prices by 28.7 percent," he said.

The increase in fuel oil prices had actually no relation with the drop in the rate of the rupiah recently but in the future the bullish economic growth and the people`s weakening purchasing power would affect the rupiah`s movements.

"We want to see how long the rupiah can stay below the rate of Rp9,300, if negative influences occur," he said.

The monetary authority considered ...