Rupiah Wednesday Morning Weakened to Rp14.393

INDUSTRY.co.id - Jakarta- The exchange rate of rupiah traded interbank in Jakarta on Wednesday morning (11/7/2018) moved down 26 points to Rp14,393 compared to the previous position of Rp14.367 per US dollar.

CSA Research Institute senior analyst Reza Priyambada in Jakarta said the Rupiah movement was again tested for its resilience to be able to reverse the upward trend.

"The rupiah is still vulnerable to the potential for further hikes so we need to pay close attention to various sentiments, especially the movement of global currencies against USD," said Reza.

Earlier, the weaker pound sterling along with the internal conditions of the disrupted British administration with the release of two important officials linked to Brexit, used the US dollar to strengthen.

The impact of the rupiah was affected by the weakening where the Rupiah's rate failed to continue its rise.

The appeal from one of the research institutes related to the weakening of the rupiah stating the need to increase export efforts to stabilize the rupiah currency to government measures that are identifying a number of sectors affected by the US-China trade war, seems not strong enough to defend the rupiah in the green zone.

"The rupiah is expected to move in the range 14,363-14,343," Reza said.

In line with the rupiah, the Composite Stock Price Index (IHSG) on the Indonesia Stock Exchange (BEI) on Wednesday opened down by 38.77 points or 0.66 percent to 5,842.99.

While the group of 45 leading stocks or LQ45 moved down 9.82 points (1.06 percent) to 919.23.