Jakarta, March 2 (Antara) -- The value of rupiah depreciated against the US dollar due to external factors, not due to the influence of existing conditions in the country, according to Finance Minister Bambang Brodjonegoro.
"The value of rupiah dropped due to external factors. It was not because of domestic problems," Brodjonegoro added here on Monday.
 On Monday morning, the Indonesian currency depreciated against the US dollar in interbank transactions, trading at the level of 12,986 per US dollar from the earlier level of 12,930 per dollar.
        According to the finance minister, the weak rupiah was influenced by a number of external factors, such as the current economic conditions in China and the United States.
        Brodjonegoro believes that Bank Indonesia (BI) has prepared appropriate measures to intervene in the market to stabilize the rupiah.
        Earlier, Vice President Jusuf Kalla said that the government did not need to take anticipatory measures because the depreciation of rupiah against the US dollar was caused by external factors.
        "We do not need anticipatory measures (as the drop in the value of rupiah occurred) due to external factors. Our exports will be better than imports," he affirmed here on Thursday.
        The vice president said that the rupiah plunged to its weakest level in the last six months, and its value was influenced by external factors.
        Moreover, chief researcher of NH Korindo Securities Indonesia, Reza Priyambada, noted that worries over the Greek debt problem remained, despite the rollover agreement.
        "Many market players are still worried about the potential default shadowing creditors," Priyambada remarked.
        Some market players in the country are also worried about the possible increase in inflation in February.
        They are awaiting the release of data on trade balance for January, which is expected to be done by the Central Bureau of Statistics early next week.
        Furthermore, chief researcher of Monex Investindo Futures, Ariston Tjendra, stated that market players were awaiting data on the consumer price indices of the US and Canada to be released at the same time.
        "Normally, the exchange rates of risky currencies, including rupiah, would be under pressure if the consumer price index increased. In addition, the United States will also release weekly data on unemployment allowance claim and data on durable goods orders for January. The data is expected to show improvement," Tjendra remarked.
        As quoted in a national newspaper, BI Governor Agus Martowardojo said that the central bank would tolerate a weak rupiah.
        "We must be prepared for circumstances wherein the rupiah depreciates, given the strengthening trend of the US dollar," Martowardojo told reporters at the bank's  headquarters here on Friday.
        He reiterated the central bank's commitment to intervene in the market to stabilize the rupiah, but he would not go against the tide if other Asian currencies also weakened against the dollar.
        "The central bank wants to see an improvement in the competitiveness of Indonesian exporters," he remarked.
        The rupiah dropped after the BI governor showed a willingness to let it continue on its downward trend. On Friday, the rupiah touched 12,948 per US dollar, its lowest since November 2008, before it appreciated slightly to close at 12,928, or 0.7 percent lower than a day earlier, after the central bank intervened by supplying the market with dollars.
        If the rupiah strengthened while other currencies in the region weakened against the US dollar, "It could result in serious repercussions for the Indonesian economy," he said.
"The value of rupiah dropped due to external factors. It was not because of domestic problems," Brodjonegoro added here on Monday.
 On Monday morning, the Indonesian currency depreciated against the US dollar in interbank transactions, trading at the level of 12,986 per US dollar from the earlier level of 12,930 per dollar.
        According to the finance minister, the weak rupiah was influenced by a number of external factors, such as the current economic conditions in China and the United States.
        Brodjonegoro believes that Bank Indonesia (BI) has prepared appropriate measures to intervene in the market to stabilize the rupiah.
        Earlier, Vice President Jusuf Kalla said that the government did not need to take anticipatory measures because the depreciation of rupiah against the US dollar was caused by external factors.
        "We do not need anticipatory measures (as the drop in the value of rupiah occurred) due to external factors. Our exports will be better than imports," he affirmed here on Thursday.
        The vice president said that the rupiah plunged to its weakest level in the last six months, and its value was influenced by external factors.
        Moreover, chief researcher of NH Korindo Securities Indonesia, Reza Priyambada, noted that worries over the Greek debt problem remained, despite the rollover agreement.
        "Many market players are still worried about the potential default shadowing creditors," Priyambada remarked.
        Some market players in the country are also worried about the possible increase in inflation in February.
        They are awaiting the release of data on trade balance for January, which is expected to be done by the Central Bureau of Statistics early next week.
        Furthermore, chief researcher of Monex Investindo Futures, Ariston Tjendra, stated that market players were awaiting data on the consumer price indices of the US and Canada to be released at the same time.
        "Normally, the exchange rates of risky currencies, including rupiah, would be under pressure if the consumer price index increased. In addition, the United States will also release weekly data on unemployment allowance claim and data on durable goods orders for January. The data is expected to show improvement," Tjendra remarked.
        As quoted in a national newspaper, BI Governor Agus Martowardojo said that the central bank would tolerate a weak rupiah.
        "We must be prepared for circumstances wherein the rupiah depreciates, given the strengthening trend of the US dollar," Martowardojo told reporters at the bank's  headquarters here on Friday.
        He reiterated the central bank's commitment to intervene in the market to stabilize the rupiah, but he would not go against the tide if other Asian currencies also weakened against the dollar.
        "The central bank wants to see an improvement in the competitiveness of Indonesian exporters," he remarked.
        The rupiah dropped after the BI governor showed a willingness to let it continue on its downward trend. On Friday, the rupiah touched 12,948 per US dollar, its lowest since November 2008, before it appreciated slightly to close at 12,928, or 0.7 percent lower than a day earlier, after the central bank intervened by supplying the market with dollars.
        If the rupiah strengthened while other currencies in the region weakened against the US dollar, "It could result in serious repercussions for the Indonesian economy," he said.