Rupiahs Chances for an Appreciation Remains Wide Open on Tuesday

The Head of Research for NH Korindo Securities Indonesia, Reza Priyambada said that the Rupiah is expected to experience some significant appreciation throughout Tuesdays trading session. The Rupiah is expected to hover between Rp13.120 and Rp13.165 per US Dollar. In light of the JCIs depreciation that is driven by the mass unloading of shares of companies with large capitalisations by investors - particularly in the banking sector - the Rupiah could still see some positive movements throughout Tuesdays trading session, said Reza on Monday, April 12, 2016. According to Reza, the reason behind the Rupiahs appreciation is the US Dollars depreciation against the Japanese Yen. Bank of Japan (BoJ) efforts to rein in its currency has so far yielded minimum effect, and the Yen has continued to appreciate. Furthermore, continued Reza, the Rupiah is also appreciating because the prices of several global commodities have gone up. We hope that the appreciation is not a glitch, and the trend will remain so people wont use it to speculate and/or attempt to take profit from its appreciation in recent days, he said. Despite the general outlook, Reza has continued to ask market players to be aware of other sentiments that may impact the Rupiahs movements throughout the day. On Mondays close, Bank Indonesia (BI) middle rate stood at Rp13.134 per US Dollar -  up from its previous position on Friday at Rp13.169 per US Dollar.



April 16, 2016

Bank note current rate:
  currency buy sell
GBP 17,775 17,990
AUD 10,150 10,315
HKD 1,676 1,732
USD 13,350 13,530
MYR 3,225 3,285
CAD 10,450 10,635
SGD 9,875 10,060
EURO 15,850 16,040
SFR 13,575 13,785
YEN 119.50 121.55
NZD 9,125 9,315
THB 401 422
NT 431 459
WON 11.59 12.75
DKK 2,033 2,155
SEK 1,553 1,630
BND 9,825 10,060
NOK 1,581 1,665
SAR 3,451 3,610
PHP 248 267
RMB 1,971 2,053
INR 161 209
RUB 180 231
AED 3,549 3,685
   Last Updated :24 Nov 2017 - 04:56 PM
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