Fiscal Policy Support Rupiah Stabilization. As a result, the exchange rate of rupiah continues to weaken, or briefly touch the level of IDR15,182/USD based on Jakarta Interbank Spot Dollar Rate (JISDOR), Friday (5/10). As well as, Bank Indonesia (BI) has also made a number of interventions to stabilize the rupiah exchange rate, such as raising interest rates, relaxation of policy macro prudential, and also the deepen of the Forex market. Moreover, monetary policy is not supported by fiscal policy.
Furthermore, there are still many government policies that can be taken, such as the control of 5 to 10 types of goods imported. More, reducing the levy of export of palms oil so that the export of palms oil is better. On the other hand, a decrease in foreign exchange reserves Indonesia which is still little. In addition to, down 2.6% compared to the previous month to USD114.8Bn. Last, Bank Indonesia deliberately save backup foreign exchange to anticipate volatility at the end of the year 2018 and 2019 in years.
In addition to, raising interest rates, Bank Indonesia can still do other policies such as relaxing the loan to value (LTV), perform Bank Indonesia Certificate auction (SBI), auction Forex (FX) swaps are also open to non-deliverable domestic transactions forward (DNDF) suffices as a monetary policy.
As well as, the relaxation of the rules of the loan to value (LTV) credits property already issued Bank Indonesia (BI) and took effect since 1 August 2018. Finally, there are three relaxation points LTV, LTV ratio for credit easing and property ratio FTV (financing to value) for financing a property. Second, the erosion of the amount of credit or financing facilities through the mechanism of indent, and third, the adjustment settings of the stages and the magnitudes of the disbursement of credit or financing. Last, these technical rules contained in the regulations of the members of the Board of Governors (PADG) BI No. 20/22/PADG/2018.
As a result, in the rules it discusses implementation of LTV for credit property, and the ratio of financing to the value of the property and for financing the down payment for credit financing of motor vehicles. Finally, the regulation of members of the Board of Governors of BI this is a rule of the rules of BI (PBI) No. 20/8/PBI/2018 on LTV.