Indonesia to Release Package Policies To Sustaining Rupiah

Indonesia on Thursday will announce a package of measures to help boost the rupiah which includes tax exemptions for investors, according to the head of the economy ministry. This policy package associated with the real chancellor, finance, as well as deregulation, new policies as well as the elimination of the tax, according to the Coordinating Minister for the Economy, Nasution told reporters after meeting with President Joko Widodo. He reminded that most of the new policy, which has the main aim of strengthening rupaih, is expected to be effective from next week.

First, the policy will create economic activities run more smoothly, the two policies will make foreign currency continued to arrive, said Nasution. Further details of the package of measures will be clarified by the Ministry of Finance on Thursday, he added. On Thursday, Bank Indonesia observed directly sell dollars, not through agent banks, to raise the exchange rate, according to traders. The surprise move shows the strong determination on the part of governments to shore up the Asian currencies with the second-worst performance so far this year to show its presence on the market, he added.