Rupiah Climbs to 15,544 per Dollar; Analyst Reminds Govt, BI to Remain Alert
Editor
28 October 2022 23:29 WIB
TEMPO.CO, Jakarta - The rupiah ended today's trade, October 28, with a 13 point gain on the US dollar. Earlier in the day, the rupiah briefly climbed 35 points to trade for 15,554 per US dollar before closing at 15,567.
Laba Forexindo Berjangka director Ibrahim Ascustombi predicted on Monday's trade next week, the rupiah will fluctuate. "But it will likely weaken between Rp15,530 and Rp15,600," he said, Friday.
Ibrahim said that rupiah appreciation was followed by the strengthening of the dollar index along with the US' improving economic growth in Q3/2022 to 2.6 percent, escaping the economic contraction that occurred in the first half of this year.
"The US economy indicates how the global recession may be a brief passing, and that will have a positive impact on emerging markets, including Indonesia," Ibrahim said.
Even though the US economy is improving, Ibrahim asked the government and Bank Indonesia not to relax just yet. An alert stance and efforts to strengthen the economy, he said, must keep on.
"The government and BI need to keep implementing a mix-economics strategy, distribute social assistance, direct cash aid and others, and continue to intervene in the foreign exchange (forex) and bond markets in domestic non-deliverable forward (DNDF) trade," he said.
RIRI RAHAYU
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