Rupiah Begins 2019 Deepest Weakening in Asia
NasionalIndonesia. The rupiah exchange rate was in the position of Rp14,464 per US dollar (US) in spot market trading Wednesday morning (2/1). This position weakened 74 points or 0.51 percent from the end of last year, Monday (31/12) in the position of Rp14,390 per US dollar.
Since opening the rupiah has weakened to the position of Rp14,446 per US dollar. Until 8:45 a.m. WIB, the rupiah continued to weaken to the position of Rp. 14,464 per US dollar.
In the Asian region, the rupiah became the highest weakening currency. The South Korean won minus 0.33 percent, Philippine peso minus 0.24 percent, Singapore dollar 0.1 percent, Hong Kong dollar minus 0.03 percent, and Malaysian ringgit minus 0.02 percent. Meanwhile, the Thai baht rose 0.04 percent, the Japanese yen was 0.1 percent, and the Indian rupee gained 0.48 percent.
The same goes for the major currencies of developed countries. Only the Canadian dollar and the British pound rose from the US dollar, 0.02 percent and 0.01 percent respectively.
While other currencies lean in the red zone. The European euro weakened 0.11 percent, the Australian dollar minus 0.15 percent, the Russian ruble minus 0.19 percent, and the Swiss franc minus 0.21 percent.
Despite weakening this morning, Done Monex Investindo Analyst Nurhadi Yasyi predicted the rupiah would strengthen early in the year because the tendency of the rupiah was still quite positive after the 2019 New Year holiday.
However, the rupiah will get sentiment from the announcement of the release of Indonesian inflation over the past year which will be released by the Central Bureau of Statistics (BPS) this afternoon at 11.00 WIB.
"This will give direction to Indonesia's future economic outlook," said Dini
Furthermore, Dini estimates that the rupiah will move in the range of IDR 13,800-14 thousand per US dollar this year. This is because of the probability of a rise in the benchmark rate of the US central bank, The Federal Reserve.
Meanwhile CSA Research Institute analyst Reza Priyambada estimates that the rupiah will move in the range of Rp14,300-15,250 per US dollar this year. This range of rupiah movements considers the direction of monetary policy from central banks in the world, especially the Fed and Bank Indonesia (BI).
"The rupiah will also be affected by the realization of government policies, the holding of elections, auction of debt securities and instruments on the money market, to global macroeconomic conditions," he said.
In addition, the range also considers the assumption of the government exchange rate in the 2019 State Budget (APBN) of IDR 15 thousand per US dollar.
Since opening the rupiah has weakened to the position of Rp14,446 per US dollar. Until 8:45 a.m. WIB, the rupiah continued to weaken to the position of Rp. 14,464 per US dollar.
In the Asian region, the rupiah became the highest weakening currency. The South Korean won minus 0.33 percent, Philippine peso minus 0.24 percent, Singapore dollar 0.1 percent, Hong Kong dollar minus 0.03 percent, and Malaysian ringgit minus 0.02 percent. Meanwhile, the Thai baht rose 0.04 percent, the Japanese yen was 0.1 percent, and the Indian rupee gained 0.48 percent.
The same goes for the major currencies of developed countries. Only the Canadian dollar and the British pound rose from the US dollar, 0.02 percent and 0.01 percent respectively.
While other currencies lean in the red zone. The European euro weakened 0.11 percent, the Australian dollar minus 0.15 percent, the Russian ruble minus 0.19 percent, and the Swiss franc minus 0.21 percent.
Despite weakening this morning, Done Monex Investindo Analyst Nurhadi Yasyi predicted the rupiah would strengthen early in the year because the tendency of the rupiah was still quite positive after the 2019 New Year holiday.
However, the rupiah will get sentiment from the announcement of the release of Indonesian inflation over the past year which will be released by the Central Bureau of Statistics (BPS) this afternoon at 11.00 WIB.
"This will give direction to Indonesia's future economic outlook," said Dini
Furthermore, Dini estimates that the rupiah will move in the range of IDR 13,800-14 thousand per US dollar this year. This is because of the probability of a rise in the benchmark rate of the US central bank, The Federal Reserve.
Meanwhile CSA Research Institute analyst Reza Priyambada estimates that the rupiah will move in the range of Rp14,300-15,250 per US dollar this year. This range of rupiah movements considers the direction of monetary policy from central banks in the world, especially the Fed and Bank Indonesia (BI).
"The rupiah will also be affected by the realization of government policies, the holding of elections, auction of debt securities and instruments on the money market, to global macroeconomic conditions," he said.
In addition, the range also considers the assumption of the government exchange rate in the 2019 State Budget (APBN) of IDR 15 thousand per US dollar.
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