Indonesian rupiah within manageable range: minister

• Source: Xinhua
• [08:11 October 19 2009]
• Comments

Indonesian Finance Minister Sri Mulyani said on Thursday that rupiah has been at fundamental range and dismissed the concern that it may appreciate and hurt exports.

The minister made the statement as the Southeast Asia largest economy has improved along with the economic recovery within the region which may cause inflows of capital into Indonesia.

"Rupiah so far is still in the range that we expect. I think itis still in manageable range on the implication of our whole economy and budget," Mulyani told reporters at the State Palace here.

Indonesia's export which has signed improvement recently after being hit by the global financial routs.

The minister also ruled out the possible impact on the country's exports.

"There is no problem, everything has been managed smoothly enough," she said after asked whether the possible rupiah appreciation could hurt the exports.

Indonesia is less dependence on overseas sale as its exports are only 32 percent of its GDP.

Rupiah was at the level of 9,230 against one US dollars on Thursday.

Earlier, the country's central bank has said that it is ready to intervene to keep the rupiah at the manageable range.