Analyst Says 'Biden Effect' will Keep Rupiah Strong in November

5 November 2020 12:51 WIB

TEMPO.CO, Jakarta - TRFX Garuda Berjangka director Ibrahim Assuaibi predicted that the rupiah will have a strong trade rate against the US dollar throughout November 2020. He projected a rate of Rp14,350 per dollar, an impact of Joe Biden's strong hold in the US elections as recent updates show.

"The Biden effect, and [hopes] that Indonesians would have been vaccinated by December," Ibrahim said on Thursday, November 5.  

Ibrahim said the market would be in an optimistic spirit if Biden wins the election and how it will affect US international policies.

"Moderate economic and political policies; which could lead to a stop of the trade war," he said. 

On Thursday morning, the rupiah climbed by more than one percent. Bisnis cited Bloomberg and reported that the spot rate opened 180-bps up to Rp14,380 per US dollar.

Also Read: Rupiah Still Undervalued at 14,700 per Dollar, BI Governor Says

FRANCISCA CHRISTY ROSANA | BISNIS



Rupiah Expected to Weaken Further Down to 15,070 per US$

7 menit lalu

Rupiah Expected to Weaken Further Down to 15,070 per US$

Ibrahim Ascustombi, director of Laba Forexindo Berjangka, estimated the rupiah to depreciate further against the US dollar in today's trade.


Market Appreciate Fuel Hike as Rupiah Strengthens against US Dollar

19 hari lalu

Market Appreciate Fuel Hike as Rupiah Strengthens against US Dollar

The Indonesian rupiah opened today's trade, September 6, with a gain on the US dollar.


Rupiah Slumps over Fed Rate Hike Expectations

34 hari lalu

Rupiah Slumps over Fed Rate Hike Expectations

The rupiah ended today's trade with a 0.36 percent correction to Rp14,892 per US dollar compared to last week's close.


Bank Indonesia Guarantees Safety of New Rupiah Notes

36 hari lalu

Bank Indonesia Guarantees Safety of New Rupiah Notes

Bank Indonesia uses the latest technology in the design and printing of new banknotes.


Rupiah Exchange Rate Predicted to Fluctuate

39 hari lalu

Rupiah Exchange Rate Predicted to Fluctuate

The rupiah exchange rate risks being pressured by the US dollar on Thursday trading following the issuance of the Fed minutes.


Joe Biden Tests positive for COVID-19

22 Juli 2022

Joe Biden Tests positive for COVID-19

Biden, who was fully vaccinated and twice boosted, is experiencing very mild symptoms, according to a statement from the White House.


Biden Hopes for More Oil, Israeli Integration at Arab Summit in Saudi

16 Juli 2022

Biden Hopes for More Oil, Israeli Integration at Arab Summit in Saudi

U.S. President Joe Biden meets with Arab leaders in Saudi Arabia on Saturday, July 16.


Palestinians Hold Mass Protests against Biden's Visit

15 Juli 2022

Palestinians Hold Mass Protests against Biden's Visit

Thousands of Palestinians on Thursday staged demonstrations in the West Bank and Gaza Strip against U.S. President Joe Biden's first visit to Israel.


Analysts Explain Why Rupiah Exchange Rate Weakened on Wednesday

6 Juli 2022

Analysts Explain Why Rupiah Exchange Rate Weakened on Wednesday

Rupiah faces internal and external pressure which has caused its exchange rate to reach the psychological barrier of Rp15,001/US dollar.


Biden Signs Gun Safety Bill into Law

25 Juni 2022

Biden Signs Gun Safety Bill into Law

U.S. President Joe Biden on Saturday signs into law the first major federal gun reform in three decades.