Weakened Down, Translucent Rupiah Rate Rp. 15,200 per US Dollar

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The movement of the rupiah exchange rate transacted between banks in Jakarta on Monday afternoon (8/10) edged down by two points to Rp. 15,185 compared to the previous position of Rp. 15,183 per US dollar. The rupiah exchange rate even penetrated Rp. 15,200 per US dollar.

Money market observer, Bank Woori Saudara Indonesia Tbk, Rully Nova, said that rupiah depreciation was relatively limited to the US dollar as Bank Indonesia was actively guarding it. "External sentiments, especially from the United States, are still negative for the currencies of developing countries. However, Bank Indonesia intervened so that the rupiah was not pushed deeper," he said.

He said that the positive US economic data triggered speculation that the space for the Fed to raise its benchmark interest rate was quite open. This condition makes investment instruments in developing countries attractive.

"Funds in emerging markets tend to go to the United States, the situation is triggering the rupiah to tend to weaken," he said.

CSA Research Institute Senior Analyst Reza Priyambada said that the movement of the rupiah, which had weakened, was expected to occur again. That way, it makes the rupiah have a pause to rebound.

"At the very least, weakening is limited. Given the movement of the rupiah which has been in the oversold area," said Reza, in Jakarta.

Head of Research at Monex Investindo Futures, Ariston Tjendra, said market participants who are considering the low US unemployment rate and a solid workforce are positive catalysts for US bond yields. "A solid US economy supports expectations of a further gradual rate hike by the Fed," he said.

Meanwhile, Bank Indonesia's middle rate today (8/10) recorded a weakening of the rupiah to Rp. 15,193 compared to the previous (5/10) in the position of Rp. 15,182 per US dollar.
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Weakened Down, Translucent Rupiah Rate Rp. 15,200 per US Dollar Rating: 4.5 Diposkan Oleh: berita tegal


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