Indonesia: Rupiah Weakens against US Dollar after N. Korea Nuclear Test

• Sep 04, 2017

TEMPO.CO, Jakarta – The rupiah was trading weaker by 1 point to Rp13,319 per US dollar in Jakarta inter-bank market this morning. Binaartha Sekuritas analyst Reza Priyambada said this morning that negative sentiments following rising tensions in the Korean Peninsula have prompted investors to hold their transactions on assets in developing countries, including Indonesia, halting the currency performance. “Market players tend to observe global condition,” he said.

Reza expects the market to respond to positive sentiments at home to allow the rupiah to move toward the positive zone.

“…the issuance of the Presidential Regulation [Pepres] on Acceleration of Business Implementation is projected to help maintain sustainable economic growth,” he said.

Earlier on Thursday afternoon, the rupiah was closed stronger by seven points to Rp13,339 per US dollar.

Source: https://en.tempo.co/read/news/2017/09/04/056905768/Rupiah-Weakens-against-US-Dollar-after-N-Korea-Nuclear-Test