TEMPO.CO, Jakarta - The Rupiah spent the entire day under pressure and closed in the red zone on Tuesday, May 3, 2016.
The garuda lost 29 points to close 0.22 percent down to Rp13,188 per US dollar, after opening strong with a 35-bps gain at Rp 13,124. Throughout the day, the rupiah swayed between Rp13,123 and Rp 13,190 per US dollar.
Samuel Sekuritas economist Rangga Cipta said the garuda actually had the potential to gain, supported by positive sentiments from the domestic economy.
The Indonesian manufacturing index went on an uptrend, exceeding the 50-mark limit, providing a boost to the national growth prospects ahead of the announcement of quarter one's data next Monday.
Rangga projected that the quarterly growth rate in the first three months of this year would be around five percent on a year-on-year basis.
"However, we need to stay alert over last night drastic oil price drop, which usually triggers a dollar appreciation," Rangga said in his research.
Meanwhile, the US dollar index had weakened by 0.57 percent or 0.52 points to 92.10 as of 4:02 PM Jakarta time.
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