Rupiah Exchange Rate Movement, Monday Prediction
5 October 2015 07:12 WIB
TEMPO.CO, Jakarta-NH Korindo Securities Indonesia (NHKSI) estimates that Bank Indonesia rupiah middle rate against the US dollar in trading Monday, October 5, to move in the range of between 14,690 and 14,715 rupiah.
NHKSI Head of Research Reza Priyambada said after the increase, the rupiah middle rate weakened again after lessening impact of the government’s economic policy and deflation.
On the other hand, he said, weakening in a number of US data coupled with rising of crude oil prices, will not cause make the US dollar rate to weaken. Although strengthening still occurred in yen, eruo, and swissfranc.
“The rupiah (middle rate) was unable to take advantage of the condition of the US dollar, and eventually dropped back to the new support level at Rp14,700 per US dollar," said Reza in his research.
The weakening rupiah exchange rate, gave chances of continued weaknening if there is no improvement in the sentiment.
"It still needs to adjust to the reality and look at the sentiment in the market," said Reza.
Rupiah is below the support target at Rp14,685/US$.
BISNIS.COM