President Joko Widodo was upbeat on the country’s economic fundamental, and turned down concerns over the rupiah currency depreciation. The rupiah has been trading near its lowest since January 2016 in the past week. It traded at 13,872 a dollar at 0524 GMT Monday.
Over the past few weeks the Indonesian rupiah has been under pressure as 10-year US treasury yields passed beyond the 3% level. Meanwhile, an improving US economy gives rises to expectations that the Federal Reserves will raise its benchmark.