Indonesian Rupiah (IDR) Weakens On Wednesday

The rupiah in Jakarta interbank traded Wednesday morning, moving down by two points to Rp11.965 compared to the previous position Rp11.963 per USD. On Wednesday, research analyst from Securities Analysts Association of Indonesia (AAEI), Reza Priyambada said, "The lack of domestic sentiment makes money market participants to take 'wait and see' position. Currently, market participants look forward to the realization of a new government policy in encouraging the development of infrastructure and the increase in fuel oil (BBM), a condition that makes a horizontal movement of the rupiah,". On the other hand, the uncertainty and volatility in the world financial markets are still going to occur both in the short and medium terms, therefore the currency in developing countries, including Indonesia, are likely to weaken but with stable fluctuations. Reza Priyambada also stated, "The slight increase of Chinese manufacturing index data has not quite been able to sustain the pace of IDR to be able to survive in the positive area,” Zulfirman Basir, analyst from Monex Investindo Futures added, "It is estimated, the exchange rate will be traded in the range Rp11.950-12.000 per dollar for Wednesday (24/9),”

 

Source: detikfinance, Investor Daily Indonesia