Throughout this week, the rupiah was hit by external sentiment. Yesterday, the rupiah spot rate returned 0.07% correction to Rp 13.757 per US dollar (US). This is the record for the worst closing rupiah since February 2016. In a week, the rupiah fell 0.65%.
Meanwhile, the rupiah exchange rate of Bank Indonesia closed up 0.34% to Rp 13,746 per US dollar last weekend. However, in a week rupiah is still eroded 0.56%.
According to Samuel Securities Lana Soelistianingsih's economy, the declining rupiah exchange rate is due to the strengthening US dollar index. This is in line with the projected increase in the Federal Reserve's benchmark interest rate this month.
According to Samuel Securities Lana Soelistianingsih's economy, the declining rupiah exchange rate is due to the strengthening US dollar index. This is in line with the projected increase in the Federal Reserve's benchmark interest rate this month.
In addition, the minutes of the Federal Open Market Committee (FOMC) and the Fed's first speech by Governor Jerome Powell were hawkish. This makes the market increasingly convinced that the Fed rate will rise four times this year. "The rupiah weakened more because the US dollar strengthened," said Lana, Friday (2/3). Meanwhile, domestic data, such as stable inflation, failed to contain global sentiment.
Andri Hardianto, Research & Analyst of Asia Tradepoint Futures, added that rupiah exchange rate potentially will strengthen in next week. Given the US dollar index began to weaken due to the plan of President Donald Trump who wants to set tariffs on steel imports by 10% and tariffs on aluminum imports reached 25%.
Domestic economic data, such as inflation data, foreign exchange reserves and retail sales, will still support the movement of the rupiah next week. In addition, the undervalued rupiah position has made BI intervene. "This can calm the market," Andri said.
He predicts the rupiah will move within the range of Rp 13,640-Rp 13,750 per US dollar. While Lana's prediction, the rupiah moves in the range of Rp 13,750-Rp 13,760 per US dollar.
Just info from me in this morning
Hopefully all guys
Best regards @kato95
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