Rupiah Vlosed Slightly Lower 0.04% on Friday

The rupiah ended trading this week with a weakening. The spot rupiah exchange rate on Friday (8/10) closed at Rp. 14,223 per US dollar, or slightly weakened by 0.04% compared to the previous close.

Nevertheless, the spot rupiah exchange rate still managed to register a gain of 0.59% in the past week.

Meanwhile, at the Jisdor Bank Indonesia (BI) reference rate, today the rupiah managed to strengthen slightly by 0.09% to 14,225 per US dollar. In a week, Garuda’s currency still strengthened 0.62%.

Chief Economist of Bank Central Asia David Sumual said, overall in the past week market participants were indeed in the midst of risk on as positive catalysts came from external and internal.

Externally, he said, the US government’s decision to increase the debt limit to US$ 480 billion by the end of the year gave market players relief. In addition, Russia’s decision to export natural gas to Europe also supports the risk-on sentiment.

On the one hand, the energy crisis in Europe and China has made coal prices soar which will become additional foreign exchange. This is a positive sentiment for the rupiah.

In addition, the release of data on Indonesia’s foreign exchange reserves, which at the end of September 2021 reached US$ 146.9 billion, also served as a positive catalyst. This position is the highest in history. Cadev also broke the previous record at the end of August 2021 of US $ 144.8 billion.

 

Reviewer overview

Rupiah Vlosed Slightly Lower 0.04% on Friday - /10

Summary

The rupiah ended trading this week with a weakening. The spot rupiah exchange rate on Friday (8/10) closed at Rp. 14,223 per US dollar, or slightly weakened by 0.04% compared to the previous close.

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