Indonesia: Rupiah at Rp13,306 Monday Morning

• Jul 03, 2017

TEMPO.CO, Jakarta – The rupiah was trading stronger by 42 bps to Rp13,306 per US dollar in Jakarta inter-bank market this morning.

Binaartha Sekuritas analyst Reza Priyambada today said that appreciation in global crude prices has allowed the rupiah to move to a positive area.

“Appreciation in global crude prices has boost commodity prices, such condition has helped commodity-based currencies to get stronger,” he said.

WTI crude price this morning increased by 0.25 percent to 46.27 US dollars per barrel and Brent Crude was up 0.16 percent to 48.93 US dollars per barrel.

He added that the projected inflation has also helped boost the rupiah movement in the foreign exchange market.

“The Central Statistics Agency [BPS] will release inflation forecast, which is projected to remain under control. The government’s full-year inflation target is 4 percent with 1 percent deviation,” he said.

Source: https://en.tempo.co/read/news/2017/07/03/056888361/Rupiah-at-Rp13306-Monday-Morning