Saturday, 22 February 2020

Rupiah Down ahead of July Trade Balance Release

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Editor:

Petir Garda Bhwana

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  • TEMPO.CO, Jakarta - The rupiah exchange rate weakened this morning, August 15, ahead of the trade balance release for July's performance. At the interbank spot market in Jakarta or JISDOR, the rupiah fell 0.29 percent to trade for 14,287 per US dollar.

    Samuel Sekuritas economist Ahmad Mikail predict the rupiah would strengthen again today, supported by possibilities of surplus. He predicted July's trade balance to see a surplus of US$300 million to US$500 million, caused by a decline in oil and gas deficit. 

    "We expect the trade balance surplus would propel the rupiah today," he said on Thursday. 

    Ahmad also estimated the greenback to weaken against Japanese yen and the euro, prompted by investors' fear of a US recession following poor performances of state bonds and treasuries. 

    For the rest of the day, Ahmad predicted the rupiah to move between Rp14,250 and Rp14,280 per US dollar.

    ANTARA