Rupiah Monday afternoon rose to Rp 14,482

By : Herry Barus And Aldo Bella Putra | Monday, July 23 2018 - 20:30 IWST

Rupiah (Foto Dok Industry.co.id)

INDUSTRY.co.id - Jakarta- The rupiah exchange rate traded between banks in Jakarta on Monday afternoon (23/7/2018) closed up 13 points to Rp14,482 compared to the previous position of Rp14,495 per US dollar.

Monex Investindo Futures analyst Putu Agus Pransuamitra said here on Monday that the strengthening of the Rupiah was due to the depressed dollar responding to President Trump's cursor on Friday (20/7), which stated that the strengthening of Dollar reduces US competitiveness in international trade.

"It can be said that President Trump is not too happy to see the strengthening Dollar," said Putu.

In the middle rate of Bank Indonesia (BI) itself on Monday, recorded Rupiah exchange rate moved up to position Rp14.454 compared to the previous position of Rp14.520 per US dollar.

At the end of last week, the rate of Rupiah had touched the level of Rp 14,500 at the end of the weekend trade. Still likely to strengthen the US Dollar as the Fed's optimism of China's economic growth makes the movement of the rupiah tends to weaken.

Even domestic sentiment in which Bank Indonesia still maintains its interest rate level seems to be ignored by the rupiah. Not only do those, a number of sentiments that are believed to be positive also not help the Rupiah to move positively.

As is known, Bank Indonesia plans to issue Indonia, a new instrument in the money market which is expected to provide a reference to the determination of interest on banking transactions in the market.

Bank Indonesia also plans to reissue Bank Indonesia Certificates (SBI) with 9 (ten) and twelve (ten) months, which are considered more liquid.

Not only have that, from the side of the government also continued to oversee the acceleration of mandatory implementation of biodiesel to improve the trade balance deficit.

In line with the Rupiah, the Jakarta Composite Stock Price Index (IDX) on Monday afternoon closed up 43.01 points or 0.73 percent to 5,915.8.

While the group of 45 leading stocks or LQ45 moved up 11.8 points (0.28 percent) to 936.97. (Ant)