Rupiah Closes Up 45pts Friday to Rp14,646/US$
2 October 2015 18:52 WIB
TEMPO.CO, Jakarta-Rupiah on rebound, appreciated by 45 points or 0.31% to Rp14,646 per US dollar at the close of trading Friday, October 2.
Bloomberg Dollar Index said when opened Friday, the rupiah was down 9 points or 0.06% to Rp14,700/US$.
Agus Chandra, an analyst at PT Monex Investindo Futures, said the strengthening of the rupiah Friday received support from the deteriorating US ISM manufacturing index. Additionally it got support from the rebound of the Hong Kong Hang Seng Index.
"The US dollar trade was weaken against several world currencies including the rupiah as investors are expecting non-farm payroll (NFP) data, most investors hold their dollar transactions," said Head of Research of Monex Investindo Futures Ariston Tjendra on Friday.
The data, he said, can strengthen or erode the chances of The Fed’s rate hike this year. Economists estimate the NFP data which will be released Friday night shows the addition of some 203,000 jobs in September.
"Market participants are expected to be vigilant because the appropriate data is better than estimated would enable the US dollar to regain some strength," he said.
Meanwhile, money market analyst at PT Bank Mandiri Tbk Reny Eka Putri said factors other than the global sentiment, the rupiah appreciation was also a result of the majority of market participants beginning to anticipate economic policy package volume II that have been issued.
"The package of economic policies issued by the government is quite positive for the medium and long term," she said.
However, she added, potential of the US dollar gaining back is still open as long as there is no certainty on The Fed’s interest rate hike.
Meanwhile, Bank of Indonesia rupiah middle exchange rateon Friday recorded the rupiah weakened to Rp14,709 compared to its previous position at Rp14,654 per US dollar.
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