Global Crude Price Limits Rupiah Movement, Analyst Says

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Kamis, 1 Januari 1970 07:00 WIB

A teller in Bank Indonesia's headquarters counts rupiah bank notes in Jakarta, April 21, 2016. REUTERS/Darren Whiteside

TEMPO.CO, Jakarta - Reza Priyambada, Chief Analyst of NH Korindo Securities predicted that the Rupiah exchange rate will continue to experience somewhat limited strengthening with a support level of Rp. 13,175 per US Dollar, and a resistance level of Rp. 13,150 per US Dolar.

"The Rupiah is expected to continue making progress thanks to global sentiments, and remain on the green zone," Reza said on Wednesday, May 4, 2016.

However, Reza stated that weak global oil price will put restrictions to the Rupiah’s progress.

Meanwhile, recent inflation rate announced by the government will provide positive sentiments for the currency, according to Reza. In addition, Reza said that the Rupiah is expected to gain more support from the upcoming announcement of the Q1-2016 Gross Domestic Product.

"On the other hand, the slowdown experienced by the Yen a also affected the Rupiah's movement," Reza said.

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