Rupiah Depressed Exchange Rate US Economy
Rupiah exchange rate weakened again. The strengthening of the US dollar against a number of major world currencies held back the rupiah.
Citing Kontan.co.id, Thursday (29/3/2018), spot rate of rupiah weakened 0.16 percent to Rp 13,764 per US dollar. Meanwhile, the rupiah exchange rate of Bank Indonesia (BI) experienced a correction of 0.27 percent to Rp 13,745 per US dollar.
Monex Investindo Futures analyst Yulia Safrina said the easing of US and Chinese tensions was the main factor that made the US dollar strengthen. "Market participants are also anticipating the announcement of final figures of US economic growth," said Yulia, Wednesday (28/3/2013).
The final data of Uncle Sam's economic growth in fourth quarter 2017 is predicted to rise from 2.5 percent to 2.7 percent. According to Yulia, this could again trigger expectations the Fed will raise US interest rates more aggressively. That way, the greenback will be more solid.
It also makes Samuel Securities economist Lana Soelistianingsih believe, the rupiah today continues to weaken. But the weakness will be thin, because BI will intervene.
Yulia has a different opinion. According to him, the rupiah today could strengthen due to reduced volatility ahead of the long holiday at the weekend. He predicts, the rupiah will move with a range of Rp 13,730-Rp 13,780 per US dollar.
While Lana estimates, rupiah valuation today will move in the range of Rp 13,730-Rp 13,750 per US dollar.
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