President Blames Indonesia’s CAD for Rupiah Depreciation

Indonesia’s Current account deficit (CAD) is charged responsible for Rupiah exchange rate slump, President Joko Widodo said on Wednesday (Oct 24). The rupiah weakened back to Rp15,210 against the US dollar at mid day today.

President highlighted the years-swelling of current account deficit. In 2017, Indonesia has US$17.3 billion of CAD and in the third quarter of this year has reached $13.75 billion. Export value until third quarter also increased by 9.2% worth of $134.9 billion, which he claimed better than last year.