TEMPO.CO, Jakarta - The US dollar correction against major world currencies managed to hoist the rupiah slightly. In Tuesday's currency trade, the rupiah edged up seven points (0.06 percent) to 11,708 per US dollar, following the movement of other Asian currencies that appreciated against the greenback. However, the rupiah cannot breathe freely yet, as negative sentiments from within the country looms over; limiting its gain.
Money market analyst Lindawati Susanto said that fuel scarcity in the country is likely to repress the rupiah. "If this problem is not addressed, there will be social unrests the investors would hunt the US dollar again," she said.
Political certainty that came with the Constitutional Court's decision last week was not followed by an economic stability. Investors are becoming restless, as the government seemed to just allow fuel oil scarcity to happen, neither raising prices nor increasing the quota of subsidized fuel.
Lindawati projects the rupiah will remain under pressure towards the end of the month, triggered by a high corporate demand for the US dollar. "Today the rupiah is expected move between 11,600 and 11,800 per US dollar, with a tendency to weaken," Lindawati said.
PDAT | M. AZHAR