Rupiah Monday afternoon weakened to Rp14.390

By : Herry Barus And Aldo Bella Putra | Monday, July 02 2018 - 19:50 IWST

Rupiah (Foto/Rizki Meirino)
Rupiah (Foto/Rizki Meirino)

INDUSTRY.co.id - Jakarta - The rupiah exchange rate traded between banks in Jakarta, Monday afternoon, closed down by 60 points to Rp14,390 compared to the previous position of Rp14.330 per US dollar.

Bank Mandiri Money Market Analyst Rully Arya Wisnubroto said on Monday (2/7/2018) that the depreciation of the rupiah is still dominantly influenced by external factors, especially the potential of US and Chinese trade wars.

In addition, the weakening of the Rupiah against the US dollar has not been able to lift by domestic sentiment.

"It's more global sentiment, domestic sentiment is not good," Rully said when contacted by Antara.

Central Bureau of Statistics (BPS) has just released inflation in June 2018 which was recorded at 0.59 percent. Thus, the inflation rate in the calendar year of January-June 2018 was recorded at 1.90 percent and year-on-year inflation (yoy) was 3.12 percent.

"Inflation is higher than expected," Rully said.

In the middle rate of Bank Indonesia (BI) itself on Monday, recorded Rupiah exchange rate moved up to position Rp14.331 compared to the previous position of Rp14.404 per US dollar.

Previously, at the end of last week, although the benchmark interest rate has been raised by 50 basis points or in accordance with the market's desire to dampen the weakening of the Rupiah deeper, but not much impact on the movement of Rupiah which only rose slightly.

Market participants are still looking at the development of the potential for a trade war between the US and China so that demand for safe-haven currencies is still greater. (Ant)

News Comment

Today's Industry

EH Free Swinging Hinges

Kamis, 29 September 2022 - 12:00 WIB

Southco Introduces Free-Swinging Hinges in New Materials to Meet Demanding, Heavy-Duty Applications

Southco Asia Ltd., a subsidiary of Southco Inc., a leading global provider of engineered access solutions such as locks, latches, captive fasteners, electronic access solutions and hinges/ positioning…

President Jokowi distributes direct cash assistance in South Buton regency, Southeast Sulawesi province, Tuesday (09/27). (Photo by: BPMI Presidential Secretariat/Laily Rachev)

Rabu, 28 September 2022 - 21:50 WIB

President Jokowi Distributes Assistances in South Buton

President Joko “Jokowi” Widodo Tuesday (09/27) distributed direct cash assistance (BLT) for fuel for beneficiaries of Family Hope Program (PKH) at Batauga post office, South Buton regency,…

President Jokowi at the inspection at PT Wika Bitumen, Buton regency, Southeast Sulawesi province, Tuesday (09/27). (Photo by: BPMI Presidential Secretariat/Laily Rachev)

Rabu, 28 September 2022 - 19:00 WIB

President Jokowi Pushes for Revival of Asphalt Producing Industries in Buton

President Joko “Jokowi” Widodo Tuesday (09/27) expressed hope to Buton regency, Southeast Sulawesi province to maximize its potential so it can re-emerge as an asphalt-manufacturing industrial…

KRAIBURG TPE presents THERMOLAST® R

Rabu, 28 September 2022 - 17:00 WIB

KRAIBURG TPE to campaign in Düsseldorf: The focus is on sustainable products and discussion

To ensure that customers of KRAIBURG TPE always achieve the best result, individual materials solutions are developed for many requested applications. The result: Right in time for the 2022…

Marcelo Tarkieltaub, regional director for Southeast Asia, Rockwell Automation.

Rabu, 28 September 2022 - 15:12 WIB

Rockwell Automation Secures RM150 Million Project from Exyte Group in Malaysia

Rockwell Automation, Inc. (NYSE: ROK), the world’s largest company dedicated to industrial automation and digital transformation, has secured a turnkey project worth RM150 million (about SGD45…