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 18,850 19,150
AUD 10,525 10,740
HKD 1,691 1,752
USD 13,500 13,700
MYR 3,425 3,510
CAD 10,550 10,825
SGD 10,150 10,400
EURO 16,650 16,850
SFR 14,400 14,650
YEN 126 128.30
NZD 9,800 10,000
THB 421 443
NT 446 476
WON 11.77 12.75
DKK 2,130 2,265
SEK 1,595 1,685
BND 10,100 10,400
NOK 1,658 1,740
SAR 3,488 3,655
PHP 245 265
RMB 2,066 2,163
INR 163 211
RUB 182 242
AED 3,587 3,730
   Last Updated :24 Feb 2018 - 09:35 AM
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