TEMPO.CO, Jakarta – Analyst predicted the rupiah to get some political reinforcement today. PT Reza Priyambada, chief researcher at Trust Securities, said the market is still responding positively to the meeting between President Susilo Bambang Yudhoyono and president-elect Joko Widodo.
"The delayed fuel price hike helped the rupiah to appreciate as it is seen as not disrupting the economic activity," he said in a release Tempo received on Thursday, August 28.
In addition, the euro appreciation will add a positive stimulus for the rupiah rate. Reza estimated Bank Indonesia's (BI) middle range to be around Rp11,690 to Rp11,676 per US dollar.
On yesterday's currency trade, the rupiah closed 0.16 percent lower to 11,702 per US dollar after opening strong is in the green range of 11,682 per dollar.
DEWI SUCI RAHAYU