TEMPO.CO, Jakarta - The rupiah is traded weaker five bps to Rp13,295 per US dollar in Jakarta inter-bank market this morning, June 20.
Samuel Sekuritas economist Rangga Cipta said that US dollar is stronger relative to Asian currencies, including the rupiah, due to weaker crude prices, among others.
“Pressure on oil pressure triggers US dollar appreciation,” he said.
Read: Rupiah Gains on Dollar ahead of Eid
WTI Crude oil price this morning tumbled 0.02 percent to 43.50 US dollar per barrel, and Brent Crude fell 0.07 percent to 45.99 US dollar per barrel.
Nevertheless, he said, US dollar is stronger but upside limited following low Treasury bond yields. On the other hand, the housing market is not expected to recover yet.
Binaartha Sekuritas analyst Reza Priyambada said that US dollar is stronger thanks to New York Federal Reserve President William Dudley who expects inflation to rise as wages increase.
“It opens up the possibility that The Fed raises its benchmark interest rate, which has caused the rupiah to weaken,” he said.
ANTARA