Rupiah Translucent Rp 13.700 per US Dollar, This Explanation Indonesian Bank
Hello steemit friends this morning i will to share to you all about indonesian rupiah.
The rupiah weakened today, Wednesday (28/2/2018) even to penetrate Rp 13,700 per US dollar.
At the close of trading today, the rupiah was at the level of Rp 13,751 per US dollar compared to the position at the opening of trade which reached Rp 13,722 per US dollar.
Throughout today, the rupiah is moving in the range of Rp 13,699 to Rp 13,773 per US dollar. At the close of trading the previous day, the rupiah was perched at Rp 13,679 per US dollar.
Head of the Department of Monetary Management of Bank Indonesia (BI) Doddy Zulverdy explained, the weakening of the rupiah on this day is still a continued impact of correction of stock prices and bonds in international financial markets.
This happened after the Federal Open Market Committee (FOMC) meeting in late January 2018 and continued after Federal Reserve Federal Reserve Governor Jerome Powell's speech at the US Congress.
The outcome of the FOMC meeting and hawkish or aggressive Powell's speech and improved US economic data prompted expectations of a faster-than-expected US rate hike.
This situation, added Doddy, encouraging the strengthening US dollar extensively to all eyes of the world, both developed and developing countries such as Indonesia.
"Thus, the recent weakening of the rupiah is more of a market response to the global situation, not because of domestic factors," said Doddy.
Doddy mentions, fundamentally, quite a lot of positive factors that support the stability of the rupiah, such as economic growth in the trend of improving and low inflation rate. In addition, the current account deficit is under control and foreign exchange reserves are relatively large.
"With the support of various factors, the rupiah should be able to strengthen again after the correction process in financial markets is easing," said Doddy.
He said, the central bank continues to monitor the development of the global situation. In addition, the central bank has also undertaken stabilization measures in the foreign exchange market and Government Securities (SBN) market, in order to keep rupiah volatility under control and in accordance with its fundamentals.
Okay steemit friends just info from me this morning
Greetings @katk95
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