TEMPO.CO, Jakarta - The rupiah is still fluctuating against the US dollar; after yesterday`s correction to 14,618 per US dollar, today the rupiah opened trade at 14,598 per US dollar. As per 9:05, it climbed further to 14,594.
Bank Mandiri money market analyst Reny Eka Putri estimates the rupiah will move in the range of Rp14,505 - Rp14,625 per US dollar. One of the factors reinforcing the rupiah is the holiday in the United States' money market.
"And there are positive developments from Italy regarding their budget," Reny told Tempo on Thursday, November 22.
Meanwhile, Binaartha Securities' analyst Muhammad Nafan Aji Gusta said that the rupiah will appreciate against the US dollar today. He estimated the rupiah to move in between 14,533 and 14,705 per US dollar.
Nafan said that one of the factors that strengthen the rupiah is the positive sentiment from oil prices decline.
"This will help curb the current account deficit (CAD) because import activities will subsequently decline," he said.
