Rupiah Gains 21 Points to Rp14.482/US$ Tuesday
6 October 2015 09:16 WIB
TEMPO.CO, Jakarta-Bloomberg Dollar Index said the rupiah gained 21 points or 0.14% to Rp14,482/US$ at the opening Tuesday, October 6.
NH Korindo Securities Indonesia (NHKSI) estimates that Bank Indonesia rupiah middle rate against the US dollar in trading Tuesday to move in the range between Rp14,590 and Rp14,615.
Samuel Securities Indonesia predict a strengthening of the exchange rate on the US dollar in trading Tuesday will be somewhat restrained.
“[Tuesday] the rupiah may be a little restrained, although in the short term strengthening space is still available," said Samuel Securities Indonesia economist Rangga Cipta in his research on Tuesday.
The dollar index had gained until early this morning, although the US services sector data published deteriorated from the previous period.
On the other hand, he said, the euro weakened after the retail sales growth rate slowed in August.
"The agreement reached on trans-pacific partnership has the opportunity to accelerate the US economic recovery, so there is little prospect of improvement that encourages the strengthening of the dollar," said Rangga in his research.
Rupiah rose sharply together with other currencies in Asia Monday, following a weaker dollar.
Followed by a decrease in yield on government securities and a sharp strengthening of JCI. Interbank rates also fell, after having risen sharply last week, indicates that condition of short-term liquidity starts to recover.
"External factors seem to dominate strengthening of the rupiah, compared to domestic factors," said Rangga.
Domestically, appears little optimism over the government's second economic policy. However, he added, on Monday the World Bank followed ADB and cut their growth forecast for Indonesia to only 5.3% YoY in 2016.
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