TEMPO.CO, Jakarta - Rupiah is expected to strengthen after declined 25 points or 0,18 percent at Rp13,753 per USD at yesterday’s closing, Monday, April 2.
Binaartha Securities analyst Reza Priyambada said the rupiah is projected to strengthen as it sees the depreciation of the USD rate and the lack of negative domestic sentiment.
"The rupiah is expected to move within a range of support at 13,762 and 13,745 resistance levels," Reza said in a written statement on Tuesday, April 3.
According to Reza, the holding of USD due to the announcement of trade tariffs by China against a number of imported goods from the US. The market players re-release the USD thus providing space for the movement of other currencies.
“On the other hand, the release of rising inflation does not seem to be responded negatively by the rupiah,” he said.
However, Reza urged the market players to take a close look and be wary of the sentiment that could make the rate of rupiah back on stuck and weaken again.
M YUSUF MANURUNG