Rupiah Climbs 26bps after Cabinet Reshuffle

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  • Seorang karyawan money changer menghitung uang kertas Rupiah, di Jakarta, 15 Desember 2014. Majalah The Economist menyebutkan, masalah yang dihadapi Indonesia adalah pemerintahan yang birokratis, korupsi, dan infrastruktur yang tidak memadai menjadi alasan nilai tukar rupiah sangat rendah. Adek Berry/AFP/Getty Images

    Seorang karyawan money changer menghitung uang kertas Rupiah, di Jakarta, 15 Desember 2014. Majalah The Economist menyebutkan, masalah yang dihadapi Indonesia adalah pemerintahan yang birokratis, korupsi, dan infrastruktur yang tidak memadai menjadi alasan nilai tukar rupiah sangat rendah. Adek Berry/AFP/Getty Images

    TEMPO.CO, Jakarta – Following yesterday's cabinet reshuffle, the rupiah inched up on Thursday morning, August 13. The Jakarta Interbank Spot Dollar Rate (JISDOR) moved up by 26 points to Rp13,735 per US dollar compared to its previous position of Rp13,761 per US dollar.

    "The rupiah correction has begun to subside after Bank Indonesia (BI) entered the foreign exchange market to help with US dollar supplies in a bid to stabilize fluctuations," Samuel Sekuritas economist Rangga Cipta said here on Thursday, August 13.

    Rangga said the rupiah depreciation has gone too deep (overshoot) as of recently. BI's intervention is expected to maintain rupiah's fundamental against the greenback.

    Responding to these developments, BI is expected to continue to stay in the market, creating more efforts to curb the correction and stabilize the exchange rate.

    ANTARA | RR