Rupiah, JCI Weaken as BI Maintains 7DRR Rate

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Laila Afifa

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  • Bank Indonesia governor Perry Warjiyo at 2018 central bank annual meeting in Jakarta, November 2018. ANTARA/Puspa Perwitasari

    Bank Indonesia governor Perry Warjiyo at 2018 central bank annual meeting in Jakarta, November 2018. ANTARA/Puspa Perwitasari

    TEMPO.CO, Jakarta - The Jakarta Composite Index (JCI) and the rupiah weakened on today's trade, February 22. The correction came one day after Bank Indonesia announced that it would maintain the 7DRR rate at 6.0%. 

    According to Bloomberg, the rupiah fell 0.06% to trade for 14,079 per US dollar as per 08:00 this morning. 

    Meanwhile, the JCI was corrected by 0.31% to 6,517.72 at around 09:00 after opening at 6,518.19.

    Yesterday, BI's board of governors' meeting decided that the 7-day Reverse Repo (7DRR) Rate will be kept at its current level of 6.0 percent. The Deposit Facility rate is 5.25 percent and the Lending Facility is set at 6.75 percent.

    BI Governor Perry Warjiyo believes the policy is consistent with the central bank's efforts to strengthen external stability—particularly in controlling the current accounts deficit and keeping domestic assets attractive to foreign investors. 

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