TEMPO.CO, Jakarta - Panin Sekuritas analyst William Hartanto predicts the rupiah to strengthen in today's trade November 7. William projects the rupiah to move between 14,800 and 14,890 per US dollar.
"One of the reasons for the appreciation is the market's subsiding climate now that there are potentials for peace in the US-China trade war," he said on Wednesday.
William said that Bank Indonesia (BI) will also announce the foreign exchange (forex) reserves this afternoon. He said the announcement will also act as a supporting sentiment to the rupiah's predicted gain.
Yesterday, the rupiah gained against the greenback. The Jakarta Interbank Spot Dollar Rate (JISDOR) recorded a rate of Rp14,891 per US dollar, up 81 bps from the previous day.