Rupiah Opened Higher 143pts on Friday, Awaiting Fiscal Stimulus
28 August 2015 08:12 WIB
TEMPO.CO, Jakarta - The US dollar index as quoted by Bloomberg, in trading Friday, August 28, opened higher by 0.12% to 95.728.
The Bloomberg Dollar Index on Thursday closed rupiah up 143 points or 1.01% to Rp13.990 per US dollar.
The rupiah skyrocketed after the government proposed setting up fiscal stimulus to stabilize the currency.
NH Korindo Securities Indonesia said the Bank Indonesia rupiah middle rate is expected to be trading Friday, August 28 in the range between Rp14.100 and Rp14.133.
NH Korindo Securities Indonesia Head of Research Priyambada Reza said the rupiah exchange rate has not moved from the middle of the red zone, although the JCI rate has began to improve.
He suggested that the strengthening pace of the US dollar appears to still hold the rupiah middle exchange rate turn to the positive.
"Whereas in the spot market, the rate of the US dollar tends to be confined, before the raising of the Fed rate in September," said Reza in his research.
Although there are calls from BI to businesses to release dollars, it seems that this has not being realized and the policy has not affected the rupiah middle exchange rate movements.
The rupiah middle exchange rate is under the support target of 14,125.
BISNIS.COM
