Senin, 3 Rabiul Akhir 1440 / 10 Desember 2018

Senin, 3 Rabiul Akhir 1440 / 10 Desember 2018

Rupiah depreciates to Rp14,012 on Tuesday's opening

Selasa 15 Mei 2018 15:06 WIB

Red: Reiny Dwinanda

Money exchange service. (Illustration)

Money exchange service. (Illustration)

Foto: Wihdan Hidayat/Republika
The rupiah's movement is still affected by external sentiments.

REPUBLIKA.CO.ID, JAKARTA -- The Indonesian rupiah has depreciated 49 points to Rp14,012 from Rp13,963 per US dollar at the Jakarta Interbank Spot Dollar Range on Tuesday's opening. The rupiah currency is still relatively stable following quite strong optimism of the government towards the national economy, analyst of Binaartha Securities Reza Priyambada noted here on Tuesday.

Priyambada pointed to an improvement in some economic data, with the current transaction deficit recorded at US$5.5 billion, or 2.1 percent of the gross domestic product (GDP), in the first quarter of 2018, or lower than the previous deficit that reached $6 billion, or 2.3 percent of the GDP.

Fluctuation in the rupiah is also relatively maintained as influenced by the market's expectation to the positive trade balance in April.

Also read: Rupiah fall only temporary: Central Bank

"Amid such a conducive domestic situation, the rupiah is expected to move in a more stable manner," Priyambada remarked.

Financial market analyst of Woori Saudara Indonesia Bank Rully Nova noted that the rupiah's movement is still affected by external sentiments, such as the prospect of The Federal Reserve raising its interest rates.

"The external sentiment has still affected the rupiah's exchange rate, but the relatively conducive domestic sentiment has prevented the rupiah from plunging steeply," he added.

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