January 13, 2015 edition
CURRENCY
Rupiah Rebounds as Government Bond Issues Begin
The start of this year's government's bond auction program at the end of the week helped the rupiah regain its value back to Rp12,647 per US dollar, a level it reached a few days earlier. The indicative amount of government bonds auctioned was set at Rp12 trillion, slightly higher than the usual amount. Those auctioned carried three-month, one-year, 10-year and 20-year tenors. This year's overall issuance target will depend on the government's 2015 revised budget to be discussed in parliament next month. Most expect government bond issuance this year to be less than previously proposed, given the savings from the cut in fuel subsidy late last year.
Rupiah Rebounds as Government Bond Issues Begin
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More Economy articles in other editions
January 1, 1970 edition
December 23, 2014 edition
THE jump in prices for his products meant Puang Kasau could no longer wait to harvest his current batch of vannamei shrimp. Raised in a three-hectare pond in Pinrang, South Sulawesi, the shrimp are collected for sale three times a year. On Monday last week, Puang succeeded in selling half a ton of size-46 shrimp, which are big enough that one kilogram contains 46 of them. This time, his shrimp fetched Rp52,600 per kilogram, an increase from their price of Rp48,000 two weeks earlier.
Baharuddin, another Pinrang shrimp farmer, has also reaped the benefits of higher prices. His giant tiger shrimp used to sell for Rp105,000 per kilogram, but last week they were going for Rp125,000 a kilogram.
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December 16, 2014 edition
Currency
Rupiah Drops to its Weakest Level
The rupiah closed at Rp12,436 per US dollar on Friday, exceeding even its lowest level reached during the 2008 Lehman crisis. Bank Indonesia (BI) has intermittently intervened throughout the week to slowdown rupiah's descent, but it did not seem to have much impact and towards the end of the week it appears that it let the rupiah weaken. BI has already used a sizable amount of its international reserves throughout the past few weeks, reflected by a drop in its reserves from US$112 billion last month to its current US$111 billion level. The central bank appeared to be more cautious this time and save the remaining amount for future needs.
Rupiah Drops to its Weakest Level
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January 1, 1970 edition
Fishery
Government to Regulate Fish Catch Quotas
Maritime Affairs and Fisheries Minister Susi Pudjiastuti is drafting a regulation to limit fish catches after a moratorium on trawlers weighing more than 30 tons ends in May next year. "This is to ensure marine ecosystem sustainability," she explained last week.
This restriction is a response to overfishing in Indonesia's waters. Maritime Affairs and Fisheries Ministry Secretary-General Syarif Hidayat said quotas would be set for 11 zones and for each fish species within them. The vessel size and type of fishing gear would also determine the quota.
Government to Regulate Fish Catch Quotas
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January 1, 1970 edition
A variety of liquor bottles were neatly arranged from floor to ceiling in the storeroom on the ground floor of Pacific Place mall in Jakarta. The store specializes in selling an assortment of imported alcohol, such as wine, whiskey and vodka. Last week it held a special sale. Customers who bought a bottle of Jack Daniel's for Rp1.47 million could also get a bottle of Jack Daniel's Honey worth Rp590,000.
The store sells a wide range of other liquor brands, such as Johnnie Walker and Smirnoff. Among the rows of bottles, it is not difficult to find one without the National Drug and Food Agency's (BPOM) Minuman Luar (ML) registration label. One bottle that lacked the label was a Canadian whiskey, Black Velvet.
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January 1, 1970 edition