Rupiah Climbs on Jokowi's Decision for BI Governor Candidate
26 February 2018 18:36 WIB
TEMPO.CO, Jakarta - The rupiah managed to end Monday’s trade with a gain following the yield decline of the US bonds. The rupiah’s appreciation was also supported by possibilities of a continued monetary stance after President Joko Widodo selected Perry warjiyo as the sole candidate for Bank Indonesia's next governor.
The rupiah gained 0.1 percent to trade for 13,657 per US dollar, after the US’ 10-year bond yield fell 5 nps to 2.87 percent last Friday.
Read: Jokowi Seeks BI Governor Candidate to Succeed Agus Martowardojo
"I hope that not only the monetary stance will continue, but also the strong commitment for a financial reform,” Nomura holdings Inc. Singapore economist euben paracuelles told Bloomberg, Monday, Feb. 26.
Euben said that Perry Warjiyo has had an important role in shaping the current’ Bank Indonesia, which he said is more credible and transparent in the last few years.
Bank mandiri economist Andry Asmoro said that if the parliament approves Perry’s appointment as the next BI governor, there won't be any difficulties in transitioning the central bank’s policies, given the man’s monetary backgrounds.
Read: Jokowi Proposes Perry Warjiyo as BI Governor Candidate to House
Meanwhile Binaartha Parama Sekuritas’ analyst Reza Priyambada said the rupiah has a shot of appreciating further this week. However, the greenback’s uptrend may hinder the rupiah’s climb.
"The rupiah is predicted to move beyond its resistant target, indicating there are positive sentiments--albeit limited,” Reza said in Jakarta, Monday.
BISNIS.COM