Yellen's Speech Halts Rupiah Progress
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Kamis, 1 Januari 1970 07:00 WIB
TEMPO.CO, Jakarta - The currency market saw the rupiah closed down in today's trade, September 28. The rupiah was corrected by 2 bps (0.02 percent) to Rp 12,957 per US dollar after closing yesterday with a strong 40-point jump .
The rupiah opened with a 21-points gain at Rp 12,934 per US dollar this morning. The garuda then spent the day moving between Rp 12,906 and Rp 12,959 per US dollar.
After staying in the green zone throughout the day, the rupiah took a downturn, moments before trading session ended.
Recapital Securities analyst Kiswoyo said rupiah's appreciation today was supported by the tax amnesty sentiment. If the program's first period is a success, the rupiah can strengthen further and trade for Rp 12,700 per US dollar, he said.
However, rupiah's climb was stopped by the strengthening US dollar index at around 16.00 Jakarta time. The dollar index gained 0.13 percent (0.121 points) to 95.559 following reports that The Federal Reserve's governor Janet Yellen will deliver a speech before the US Congress about financial regulations, the US economic conditions, and possibly about a Fed Rate hike.
