Bank Indonesia governor eyes sunnier days for rupiah

But recent moves unlikely to halt slump without more govt help

Bank Indonesia governor Perry Warjiyo, seen here at the central bank's headquarters in Jakarta, has been credited with doing the best he can to manage the volatile rupiah after assuming office in May, through measures such as imposing rate hikes and
Bank Indonesia governor Perry Warjiyo, seen here at the central bank's headquarters in Jakarta, has been credited with doing the best he can to manage the volatile rupiah after assuming office in May, through measures such as imposing rate hikes and adding to the bank's web of currency swap deals.PHOTO: REUTERS

While Indonesian President Joko Widodo muses that winter may be coming for the world economy and currency markets, his central banker is hoping for an early thaw.

With plenty of foreign exchange reserves to protect the rupiah and promises from his counterpart at the United States Federal Reserve to go slow with rate hikes, Mr Perry Warjiyo, the governor of Bank Indonesia (BI), is optimistic that - any day now - the rupiah will stop its free fall against the US dollar.

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A version of this article appeared in the print edition of The Straits Times on October 22, 2018, with the headline 'Bank Indonesia governor eyes sunnier days for rupiah'. Subscribe