Indonesia: 2019 RUU APBN Ratification Proved Good for Rupiah Trade

• Nov 01, 2018

TEMPO.CO, Jakarta – Rupiah increased 10 points today to the level of Rp 15,192 compared to its previous level, Rp15,202 per USD.

CSA Research Institute senior analyst Reza Priyambada today said that the ratification of the 2019 state budget draft bill (RUU APBN) on Wednesday had a positive effect on today’s trade.

“Several domestic positive sentiments significantly helped rupiah’s appreciation that is hoped to continue to improve,” said Reza Priyambada.

He further predicts that rupiah will be traded around Rp15,215 up to Rp15,190 per USD today.

Rupiah was able to collect positive results at the end of October even though it is followed by US Dollar’s appreciation following the release of several economic data by the US government.

The ratified 2019 state budget draft bill is responded positively by the market, in addition to a statement issued by Finance Minister Sri Mulyani that has added rupiah`s positive sentiment.

Source: https://en.tempo.co/read/news/2018/11/01/056923066/2019-RUU-APBN-Ratification-Proved-Good-for-Rupiah-Trade