TEMPO.CO, Jakarta - Bloomberg Dollar Index cited on Friday, September 11, rupiah opened up 35 points or 0.24% to Rp14.298 per US dollar. On the market closing Thursday, the rupiah weakened, amid a number of negative sentiment in global markets.
NH Korindo Securities Indonesia forecasted the Bank Indonesia rupiah middle rate in trading Friday, September 11 to move between Rp14,300-Rp14,345.
NH Korindo Securities Indonesia Head of Research Reza Priyambada said the announcement of the economic policy package was very good, but had not much impact to the market as reflected on the weakening of the rupiah exchange rate, in line with the weakening of the stock price index (JCI).
“It is possibile that market participants have not fully responded positively to the policy, or may be waiting for its realization and mechanisms to carry out the policy," Reza said in his research.
He said rupiah will break the support level to a new support level.
"If it fails to survive, the rupiah potentially will re-experience a downward trend. If there is reinforcement, it tends to be limited. Still look for sentiments to be released, (which) can negatively impact the rate of rupiah," said Reza.
Rupiah is below the support target of 14,256.