Rupiah Gains on Dollar ahead of Eid
The rupiah gained on the US dollar at the Jakarta Interbank Dollar Spot Rate this morning. The rupiah climbed four bps to trade for Rp13,271 US dollar.

The rupiah appreciated against the US dollar along with most Asian currencies, Samuel Sekuritas economist Rangga Cipta said Tuesday, June 20.

According to Rangga, the markets doubt over the long-penned Fed Fund Rate (FFR) hike kept the greenback from advancing.

Additionally, the rupiah receives a boost from capital inflows to the state bond (SUN) market following an import demand increase ahead of the Eid holiday.

Market players optimism also increases as the government said they will the state budgets pending allocation, he said.

Nevertheless, Rangga said the rupiah climb could be suspended by the low price of global crude, which is still less than US$50 a barrel.

Meanwhile, Binaartha Sekuritas analyst Reza Priyambada said that Asian currencies gained on the US dollar due to positive sentiments in Europes financial markets that stemmed from the approved additional bailout for Greece.

It makes the euro strengthen against the dollar, and positively affects Asian currencies, he said.

Source : Tempo.Co

Jun 24, 2017


 
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   Last Updated :20 Sep 2017 - 04:54 PM
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