China's structural reforms will slow the pace of its debt build-up but will not be enough to arrest it, and another credit rating cut for the country is possible down the road unless it gets its ballooning credit in check, officials at Moody's said.(Reuters Photo/Kim Kyung-Hoon)

Yuan's Depreciation Could Affect Indonesian Exports: CBank Governor

BY :GAYATRI SUROYO

DECEMBER 19, 2016

Jakarta. Indonesia central bank governor Agus Martowardojo said on Monday that depreciation of Chinese yuan could negatively affect Indonesia’s export competitiveness.

The central bank noted that the yuan has depreciated by 6.3 percent against the U.S. dollar this year, while the rupiah has appreciated by about 3 percent.

“If we’re not careful, we can have a difficult competitive situation against China, because China continues to have its currency depreciated,” Martowardojo said.

Reuters

SHARE