January 16, 2020 / 4:04 AM / 2 days ago

Indonesian president says rupiah strengthening too quickly may upset exporters

JAKARTA, Jan 16 (Reuters) - Indonesia’s President Joko Widodo said on Thursday exporters may be upset if the rupiah exchange rate strengthens too quickly against the dollar , as the currency trades near a two-year high.

“Our currency is strengthening, but be careful if the strengthening happens too rapidly,” he said at a finance industry event in Jakarta. “Exporters may not be happy about a stronger rupiah because our competitiveness may decline.”

The Indonesian rupiah has rallied in recent weeks, gaining around 1.6% so far this month. (Reporting by Tabita Diela, Maikel Jefriando; Writing by Fransiska Nangoy; Editing by Muralikumar Anantharaman)

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