Valas Savings Down, LPS Boss: Take Profit People

JAKARTA - It is known that the rupiah exchange rate against the US dollar has weakened. The chairman of the LPS Board of Commissioners Purbaya Yudhi Sadives said this was also accompanied by a decrease in savings in foreign currency (foreign currency) that has occurred recently.

He explained, based on LPS records, the largest foreign exchange growth occurred in savings above IDR 5 billion

"If the savings is between Rp. 100 million and Rp. 2 billion, the growth is negative," Purbaya said at a press conference quoted on Wednesday, May 29.

Meanwhile, he continued, foreign exchange deposits, amounting between Rp200 million to Rp500 million, decreased sharply or decreased by 13 percent on an annual basis or year on year (yoy).

Meanwhile, IDR 200 million to IDR 1 billion savings also contracted in a row from January to April 2024.

On the other hand, foreign exchange savings with a nominal value of less than IDR 100 million contracted by 4.57 percent yoy.

"This decline has also occurred in recent months," he said.

This decline, he said, was influenced by people who tended to take advantage or take profit from the weakening of the rupiah

"So maybe they take some profit or need additional funds for their activities," concluded Purbaya.