Rupiah Climbs to 13,896 per Dollar

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  • Rupiah exchange rate strengthens on Thursday, December 24, 2020. Tempo/Tony Hartawan

    Rupiah exchange rate strengthens on Thursday, December 24, 2020. Tempo/Tony Hartawan

    TEMPO.CO, Jakarta - The rupiah exchange rate continues to strengthen until this afternoon. At 11:23 p.m. Jakarta time, the rupiah gained 9.0 points or 0.06 percent to trade for Rp13,986 per US dollar.

    Meanwhile, the US dollar index was corrected by 0.06 percent to 90.387.

    Yusuf Rendy Manilet, an economist at the Center of Reform on Economics (CORE) Indonesia, had predicted that the rupiah will reverse a limited correction today. He said that one of the contributing factors to the rupiah's depreciation was the decline in January's real sales index.

    "Bank Indonesia's plan to cut the benchmark interest rate may also have an impact on the rupiah's exchange rate movements," Yusuf said when contacted on Tuesday, February 9.

    Yusuf estimated that the rupiah will be traded between Rp14,000 and Rp14,050 per US dollar today.

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