Analyst: Increase in Fuel Price Does Not Affect Rupiah

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  • TEMPO.CO, Jakarta - Panin Sekuritas analyst William Hartanto said the rupiah would increase today. He predicted the rupiah exchange rate will move in the range of Rp15,100 to Rp15,250 per US dollar.

    “The Dow decreased because the concern of inflation due to high-interest rates, this will also decrease the value of the dollar,” William said when contacted Thursday, October 11.

    According to William, the increase in fuel price did not affect the rupiah because it aimed to suppress the Current Account Deficit. “The increase in fuel price is more focused on saving the CAD, its effect on the rupiah is small,” William said.

    Bank Mandiri Money Market Analyst Reny Eka Putri estimated the rupiah is in the range of Rp15,203 to Rp15,260 per US dollar.

    “Domestic sentiment is still minimal, the investors are waiting for the release of US inflation today,” said Reny.

    Earlier at 5:50 WITA (Central Indonesian Time), the Minister of Energy and Mineral Resources or ESDM, Ignasius Jonan, announced the increase in the price of fuel oil or BBM Premium to Rp7,000 per liter, Wednesday, October 10.

    In the official website of Bank Indonesia, the Jakarta Interbank Spot Dollar Rate or JISDOR recorded the rupiah exchange rate to the US dollar at Rp15,215 on October 10. It shows a 17-point increasing from the previous value, which is Rp15,233 on October 9.