Rupiah Strengthens against US Dollar on Back of Improved Budget Deficit
Indonesias rupiah is opened moving stronger in the green zone against the US dollar on Friday (9/8/2017).

The countrys currency rose 25 points to IDR13,282 per dollar this morning.

Rupiah is traded in the range of IDR13,270 - IDR13,297 per dollar.

Reza Priyambada, analyst from Binaartha Sekuritas, said the strengthening of the rupiah amid mixed global sentiments shows that domestic conditions are conducive.

The budget deficit at the end of August 2017 was lower than in the same period last year, and Indonesias economic opportunity was one of the top five by PricewaterhouseCoopers (PwC). In addition, consumer confidence index (CCI) remains optimistic, thus keeping the rupiahs movement.

According to Reza, Finance Minister Sri Mulyani Indrawati said the budget deficit in the period ending August 2017 had reached 1.65 percent of Gross Domestic Product (GDP), or about IDR224.3 trillion, lower than last years 2.09 percent of GDP.

Meanwhile, Bank Indonesia said in its survey that consumer confidence in August 2017 remains at an optimistic level.

This is reflected in the CCI for August 2017 that remains high at 121.9, although it is 1.5 points lower than the previous month which amounted to 123.4.

Source : Netral English

Sept 09, 2017


 
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   Last Updated :23 Sep 2017 - 09:51 AM
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