Jakarta. Bank Indonesia Governor Perry Warjiyo declined to comment on Tuesday when asked about the rupiah’s continued depreciation, as the currency touched a fresh record low of Rp 17,424 per US dollar.

The governor has just attended a closed-door meeting at the office of the Coordinating Ministry for Economic Affairs in Jakarta when he was approached by reporters. Perry offered only a brief response -- “Thank you” -- before leaving the venue.

The meeting was also attended by Coordinating Minister for Economic Affairs Airlangga Hartarto, Finance Minister Purbaya Yudhi Sadewa, Investment Minister Rosan Roeslani, and Financial Services Authority Chairwoman Friderica Widyasari Dewi.

In a separate statement, Erwin Gunawan Hutapea, head of Bank Indonesia’s monetary management department, said the pressure on the rupiah reflects global uncertainty and escalating geopolitical tensions in the Middle East.

According to central bank data, the rupiah has weakened 3.65% so far this year, broadly in line with trends across emerging market currencies. Erwin wrote that the Philippine peso has fallen 6.58%, the Thai baht 5.04%, the Indian rupee 4.32%, the Chilean peso 4.24%, and the South Korean won 2.29%.

He added that Bank Indonesia will continue to intervene in the foreign exchange market and purchase government bonds in the secondary market to stabilize the rupiah and "keep it aligned with its fundamental value."

Add as a preferred source on Google +