In early April the rupiah appreciated to around Rp8,690:US$1-its strongest level against the US dollar in around four years-after the central bank confirmed it plans to allow the currency to appreciate to control inflation. The rupiah has appreciated by more than 3% against the US dollar so far this year, making it one of Asia's strongest performing currencies. Factors contributing to the rise include strong demand for Indonesia's major export commodities, such as coal and palm oil, as well as strong inflows of portfolio investment. An interest rate increase in February and confidence in recent measures to curb inflation, including postponing planned restrictions on the sale of subsidised fuel, have also contributed to Indonesia's attractions. The strong inflows of capital also helped to boost foreign exchange reserves to a record high of US$101.8bn in early March, according to BI. The central bank now expects reserves to rise to US$110bn-120bn by the end of the year.