At Monday Rupiah Weakened to Rp13.399

INDUSTRY.co.id - Jakarta - The rupiah exchange rate traded in Jakarta on Monday morning (16/7/2018) moved down 21 points to Rp14,399 compared to the previous position of Rp14.378 per US dollar.

"The weakness at the start is as the impact of the US dollar appreciation and the weakening of the euro," said CSA Research Institute senior analyst Reza Priyambada in Jakarta on Monday.

Last weekend's rupiah movement had weakened before finally able to move back positive.

Rupiah was weakening at the beginning because of the weakening euro and also rising inflation that triggered the perceived increase in interest rates of the Fed.

On the other hand, although Bank Indonesia asked banks to withhold interest rate increases, Bank Indonesia also projected a trade balance surplus in June 2018, making it quite positively responded.

Reza said, the movement of rupiah that began to appreciate is expected to re-occur as there is still a positive sentiment from within the country and can compensate for global sentiment.

"However, still depreciating other currencies against the US dollar should be wary of the impact on the rupiah," said Reza.

Rupiah on Monday is expected to move in the range of Rp14.379 to R14.368 per US dollar.

Similar to the rupiah, the Jakarta Composite Index (IDX) opened lower by 2.16 points or 0.04 percent to 5,941.91.

While the group of 45 leading stocks or LQ45 moved down 0.55 points (0.06 percent) to 937.17. (Ant)