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Tax Amnesty Positive Sentiment Strengthened Rupiah

Tax Amnesty Positive Sentiment Strengthened RupiahJakarta (Benchmark News) – Finance Minister Sri Mulyani Indrawati said the positive sentiment of the financial market participants against the tax amnesty program affect the condition of the rupiah in the past few days strengthened against the US dollar.

” The sentiment of the existence of a tax amnesty raises positive perceptions about managing the economy in Indonesia, “said Sri Mulyani in Jakarta on Thursday (29/9/2016). Sri Mulyani describes positive perception over the tax amnesty program has affected the influx of fund repatriation and the conditions led to a strengthening of the rupiah and raises hopes that the situation in Indonesia is good enough to make investments.

Nevertheless, the Minister ensure the Government will continue to monitor the movement of domestic currency because this condition can have an impact to the overall posture of acceptance or planned expenditures in the STATE BUDGET.

” We manage only, because if there is an improvement in the exchange rate means there is an influence to the STATE BUDGET, despite the improved purchasing power due to inflation expectations are low, but oil and gas receipts will plummet. We see the positive or the negative and keep STATE BUDGET until the end of the year, “said the Minister of finances of Bank Indonesia Deputy Governor.

Perry Warjiyo adding the strengthening rupiah was also predicted to occur due to external factors in the form of U.S. presidential candidates debate that gave the feel of a more positive atmosphere to the financial markets. However, according to him, a factor the tax amnesty that accompanied by improving the condition of the national economy fundamentally more dominant to donate the strengthening rupiah, up to this point been Rp 12,900 per u.s. dollar.

” This positive domestic factors will make rupiah stronger and the more appreciative, let alone Indonesia’s economy continues to recover, “said Perry. Meanwhile, the exchange rate of rupiah interbank traded in Jakarta on Thursday afternoon, a move weaken of 19 points to Rp 12.963 per u.s. dollar, compared with the previous position of Rp 12.944 per u.s. dollar.

” The exchange rate of the rupiah weakened against the U.S. dollar is moving but still limited, most market participants do action take profit after the domestic currency on the day of the previous increase, “said Woori Bank money market observers Brother Indonesia Tbk Rully Nova Opus added that the action of the market participants were anticipating a domestic economic data set to be released in early next week.

One of the data becomes the focus of the market, i.e. inflation September 2016. ” Estimated inflation still at a low level, the appropriate data estimates can push the rupiah back terapresiasi, “he said. On the other hand, further Rully, the ransom money from the tax amnesty program increased also still keeping the domestic exchange rate movements, thus not experiencing deeper pressure against the U.S. dollar.

From external factors, data, gross domestic product (GDP) and us jobless claims to be released into the attention of financial market participants. That data will give the signal for the central bank raise interest rates in the U.S. reference. ” The growing GDP and the increase in employment will potentially push The Fed raise interest rates more quickly, “said Rully…(Red)

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