Rupiah Gains 18pts to 14 262, Amid Regional Optimism

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  • TEMPO.CO, Jakarta - Bloomberg Dollar Index announced the rupiah closed up 18 points or 0.13% to Rp14.262 per US dollar on Wednesday, September 9.

    Amid China’s optimism to control their market volatility, the rupiah on Thursday also awaits the September I economic policy package that was announced by the Government on Wednesday.

    NH Korindo Securities Indonesia (NHKSI) estimated that Bank Indonesia rupiah middle exchange rate against the US dollar in trading Thursday, September 10, will be moving at the Rp14,230-14,256 range.

    NHKSI Head of Research Reza Priyambada said there are hopes for the stimulus package provision from the Chinese government to ease market turmoil, a positive sentiment on Asian currency rates.

    “The rupiah will also take advantage of this condition to strengthened," said Reza in his research.

    Moreover, the weakening that occurs already in, so the momentum is utilized for reversal of the positive direction.

    Rupiah is not close to the target support.

    "However, the rupiah strengthening will be limited, and prone to reversals," said Reza.

    The rate of the rupiah at Rp14,272/US$ is above the resistance targets.

    BI middle rate

    Date Rp/US$

    9 September 14,244

    8 September 14,285

    7 September 14 234

    Source: BI, 2015

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