TEMPO.CO, Jakarta - The Jakarta Interbank Offered Rate (JIBOR) noted the rupiah climbing 21 points on Monday morning to Rp13,314 per US dollar.
"The rupiah exchange rate moved sideways with a tendency to strengthen amid hopes that Indonesia's trade balance will record another surplus," NH Korindo Securities chief researcher Reza Priyambada said.
Nevertheless, he said that the rupiah gain is still restricted by external sentiments such as this week's FOMC meeting. The FOMC results will determine which directions market players will take for their future investment.
On the other hand, he continued, uncertainties about the Greek debt problem are still limiting the rupiah's movement against the greenback. Greece's debt negotiations, which have shown no progress so far, will continue to haunt the global financial markets, including in Indonesia.
Rangga Cipta, an economist with Samuel Sekuritas, said that emerging markets' currencies are fluctuating, including the rupiah. The volatility will persist until there is some kind of certainty about the Fed's interest rate policy.
ANTARA | RR