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Indonesia’s rupiah to continue devaluating

The central bank of Indonesia forecasts the country’s currency rupiah will continue the depreciation trend in 2015 as the US dollar is strengthening in the markets.
The central bank of Indonesia forecasts the country’s currency rupiahwill continue the depreciation trend in 2015 as the US dollar isstrengthening in the markets.

The rupiah may fall to 13,000per USD next year in comparison with the government’s target of 11,900per USD, according to Indonesian Finance Minister Bambang Brodjonegoro.

Currently, the rupiah touches 12,300 per USD, its weakest level since the 2008 financial crisis.

Bank Indonesia (BI)’s governor Agus Martowardojo said the recentweakness in the rupiah is due to the strong US dollar and Indonesia’srising trade deficit, which causes inflation.

To deal with this, the BI will maintain the interest rate at 7.75 percent, he added.-VNA
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