Rupiah Value Strengthen on Monday Evening
27 July 2015 21:02 WIB
TEMPO.CO, Jakarta - Rupiah's interbank exchange rate in Jakarta on Monday, July 27, 2015, went up by 26 points to conclude trading at Rp 13,414 per US Dollar, up from its' previous trading position at Rp 13,440 against the greenback.
"The Rupiah is experiencing an uptrend as Bank Indonesia (BI) continues to intervene in the domestic currency market," said an analyst for Bank Himpunan Saudara, Rully Nova, in Jakarta on Monday.
Rully said that BI is intervening ahead of the planned release of the national economic performance figures in early August - as the decreasing rate of domestic consumption signals that the economy is slowing down.
"BI's intervention will continue to eat into Indonesia's foreign exchange reserves, which in June 2015 stood at US$108 billion," said Rully.
The Head of Research for Monex Investindo Futures, Ariston Tjendra, added that the US Dollar is experiencing some negative correction as house sales figure in the month of June is in decline, which is a set back for the US economic recovery.
On the other hand, business sentiments from Germany is helping the Euro regain some of its' value. The Euro's recovery is also being helped by the fact that Greece manages to secure a further bailout. "The Eurozone is recovering, but this has yet to have a significant impact on the Rupiah," said Ariston.
BI's middle rate on Monday, July 27, 2015, stands at Rp13,453 per US Dollar, down from its' position Rp 13,448 per US Dollar.
ANTARANEWS