Rupiah Awaits Announcement of Fuel Price Hike

Translator

Editor

Senin, 3 November 2014 12:46 WIB

TEMPO.CO, Jakarta - Juniman, an economist at PT Bank International Indonesia said that market makers’ anticipation on fuel price hike had stimulated rupiah, adding that now would be the right momentum to increase subsidized fuel prices.

In the financial market transaction on Friday, October 31, 2014, rupiah jumped by 54 points (0.45 percent to Rp12,085 per US dollar. Rupiah managed to escape from US dollar pressure amid weakening Asian currencies.

Rumors among public said that President Joko “Jokowi” Widodo would increase fuel prices on November 1, 2014. Although the rumor had been dismissed, market makers have speculated that the fuel price hike would happen soon.

According to Juniman, the fuel price hike announcement would be preferred on the weekend since it would reduce unnecessary political costs incurred by protests or political process at the House of Representatives (DPR).

Juniman explained that rupiah might strengthen next week to Rp11,950 if the fuel price was to be increased. Provided otherwise, Juniman said, rupiah might dip to Rp12,200 per US Dollar.

M. AZHAR

Orangutan's Use of Medicinal Plant to Treat Wound Intrigues Scientists

30 menit lalu

Orangutan's Use of Medicinal Plant to Treat Wound Intrigues Scientists

A Sumatran Orangutan named Rakus appeared to treat the wound using a plant known for its pain-relieving properties and for supporting wound healing.

Jokowi Pushes for Agricultural Downstream to Stabilize Corn Prices

43 menit lalu

Jokowi Pushes for Agricultural Downstream to Stabilize Corn Prices

Jokowi is encouraging downstream to stabilize corn prices.

Retno Marsudi Discusses Indonesians Protection Amid Middle East Escalation

59 menit lalu

Retno Marsudi Discusses Indonesians Protection Amid Middle East Escalation

The situation in the Middle East is increasingly dynamic, prompting Indonesia to prepare itself for the worst.

Ruang Volcano Eruption; Govt Continues Evacuation Efforts for Over 9,000 Residents

1 jam lalu

Ruang Volcano Eruption; Govt Continues Evacuation Efforts for Over 9,000 Residents

As of yesterday, Thursday, May 2, 2024, as many as 3,364 locals had been evacuated from Tagulandang Island amid the Ruang Volcano eruption.

Death Toll from Rains in Southern Brazil Climbs to 29

1 jam lalu

Death Toll from Rains in Southern Brazil Climbs to 29

The death toll from heavy rains in Brazil's southernmost state of Rio Grande do Sul rose to 29, local authorities said on Thursday evening.

BMKG Early Warning: Heavy Rains with Lightning in Parts of Indonesian Provinces

1 jam lalu

BMKG Early Warning: Heavy Rains with Lightning in Parts of Indonesian Provinces

BMKG issues an early warning of rain potential from moderate to heavy with lightning and strong wind in several Indonesian provinces on Friday, May 3.