Indonesia finance minister Sri Mulyani Indrawati on Tuesday said the rupiah exchange rate will remain stable with a tendency to strengthen due to weakening pressure from the U.S. dollar.
Sri Mulyani Indrawati made the comment as the chair of Indonesia's Financial System Stability Committee, which comprises the finance ministry, the central bank, the Financial Services Authority and the deposit insurance corporation.
The rupiah was traded at 15,808 on Tuesday morning as of 02:51 GMT, or its lowest level since more than two months ago.
Confidence in the Indonesian rupiah has faltered over the last two weeks following local media reports that minister Sri Mulyani could quit ahead of the Feb. 14 presidential election, which raised questions about the country's fiscal outlook.
Her ministry in response has said Sri Mulyani "continues to carry out her duties in managing state finances".
Bank Indonesia sees the rupiah strengthening in the second half of 2024, its Governor Perry Warjiyo said in the same press conference.
Sri Mulyani also expects Indonesia's growth domestic product last year to be around 5%.
