Rupiah May Weaken over US-China Trade War

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Kamis, 1 Januari 1970 07:00 WIB

Indonesian currency Rupiah. ANTARA/Adwit B Pramono

TEMPO.CO, Jakarta - Binaartha Securitas analyst Reza Priyambada projects the rupiah to weaken today. Reza says the rupiah will move between Rp13,930 and Rp13,914 per US dollar.

After the G-7 meeting, Reza says, the rupiah is faced with sentiments over possibilities of another trade war between the US and China.

"[The sentiment] comes after US' plans to impose a 10-percent tariff on goods imported from China worth US$200bn," Reza says here on Wednesday, June 20.

The Jakarta Interbank Spot Dollar Rate (JISDOR) saw the rupiah being traded for Rp13,902 per US dollar on last week's close. The rate reflected a 34-bps correction from Thursday.

Reza adds that the demand for safe haven assets like gold, silver and land will rise, and it will likely give more pressure to the rupiah.

"We have to be alert for potentials of corrections," he remarks.

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