Rupiah Plummeted Again Rp. 14,581 per Dollar Caused by European Sentiment
kolom indo. Jakarta, the rupiah exchange rate is in the position of Rp14,581 per US dollar (US) in spot market trading this afternoon, Friday (12/14). This position weakened 85 points or 0.58 percent from yesterday afternoon, Thursday (13/12) at Rp14,496 per US dollar.
While the reference rate of Bank Indonesia (BI), Jakarta Interbank Spot Dollar Rate (Jisdor) placed the rupiah in the position of Rp14,538 per US dollar or weakened slightly from yesterday at Rp14,536 per US dollar.
The movement of the rupiah reversing to the red zone is apparently also felt by the currencies of other countries in the Asian region. The Philippine peso weakened 0.81 percent, the South Korean won minus 0.66 percent, and the Singapore dollar minus 0.31 percent.
Then, China renminbi minus 0.3 percent, Indian rupee minus 0.29 percent, Thai baht minus 0.16 percent, Malaysian ringgit minus 0.13 percent, and Hong Kong dollar minus 0.03 percent. Only the Japanese yen managed to hold in the green zone by strengthening 0.1 percent from the US dollar.
The same goes for the major currencies of developed countries, all of which are exposed to the US dollar. The Australian dollar weakened 0.93 percent, British pound minus 0.62 percent, European euro minus 0.58 percent, Russian ruble minus 0.38 percent, Canadian dollar minus 0.31 percent, and Swiss franc minus 0.18 percent.
Dini Monex Investindo analyst Nurhadi Yasyi said the weakening of the rupiah was affected by the strengthening of the US dollar which managed to get positive sentiment from the statement of the European central bank, The European Central Bank (ECB).
Although the ECB is holding back its benchmark interest rate and will stop buying bonds (bonds), also known as qualitative easing (QE) policies, the ECB also predicts that the euro zone economy will slow down next year.
The European economy is estimated to only be around 1.7 percent from 1.8 percent. While the inflation rate is expected to decline from the range of 1.7 percent to 1.6 percent. This makes the ECB's benchmark interest rate projections in the future do not appear to be increasing.
"Without stimulus and inflation that has not met the target, market participants are somewhat uncertain if the ECB can raise its benchmark interest by mid-2019. This sentiment makes the US dollar turn stronger and the rupiah weakens," Dini said Friday (12/14).
Whereas the sentiments from other countries and domestic Indonesia did not exist. As a result, a number of currencies that initially strengthened from the US dollar turned to weaken.
Dini estimates that next week, the rupiah will move in the range of Rp14,475-14,640 per US dollar. According to him, the movement of the rupiah will be affected by the results of the meeting of the US central bank, the Federal Reserve which will announce its benchmark interest rate.
Then, the release of the trade balance by the Central Statistics Agency (BPS), and the announcement of the monetary policy of the Japanese central bank (Bank of Japan / BoJ), as well as the British central bank (Bank of England / BoE). (uli / agi)
While the reference rate of Bank Indonesia (BI), Jakarta Interbank Spot Dollar Rate (Jisdor) placed the rupiah in the position of Rp14,538 per US dollar or weakened slightly from yesterday at Rp14,536 per US dollar.
The movement of the rupiah reversing to the red zone is apparently also felt by the currencies of other countries in the Asian region. The Philippine peso weakened 0.81 percent, the South Korean won minus 0.66 percent, and the Singapore dollar minus 0.31 percent.
Then, China renminbi minus 0.3 percent, Indian rupee minus 0.29 percent, Thai baht minus 0.16 percent, Malaysian ringgit minus 0.13 percent, and Hong Kong dollar minus 0.03 percent. Only the Japanese yen managed to hold in the green zone by strengthening 0.1 percent from the US dollar.
The same goes for the major currencies of developed countries, all of which are exposed to the US dollar. The Australian dollar weakened 0.93 percent, British pound minus 0.62 percent, European euro minus 0.58 percent, Russian ruble minus 0.38 percent, Canadian dollar minus 0.31 percent, and Swiss franc minus 0.18 percent.
Dini Monex Investindo analyst Nurhadi Yasyi said the weakening of the rupiah was affected by the strengthening of the US dollar which managed to get positive sentiment from the statement of the European central bank, The European Central Bank (ECB).
Although the ECB is holding back its benchmark interest rate and will stop buying bonds (bonds), also known as qualitative easing (QE) policies, the ECB also predicts that the euro zone economy will slow down next year.
The European economy is estimated to only be around 1.7 percent from 1.8 percent. While the inflation rate is expected to decline from the range of 1.7 percent to 1.6 percent. This makes the ECB's benchmark interest rate projections in the future do not appear to be increasing.
"Without stimulus and inflation that has not met the target, market participants are somewhat uncertain if the ECB can raise its benchmark interest by mid-2019. This sentiment makes the US dollar turn stronger and the rupiah weakens," Dini said Friday (12/14).
Whereas the sentiments from other countries and domestic Indonesia did not exist. As a result, a number of currencies that initially strengthened from the US dollar turned to weaken.
Dini estimates that next week, the rupiah will move in the range of Rp14,475-14,640 per US dollar. According to him, the movement of the rupiah will be affected by the results of the meeting of the US central bank, the Federal Reserve which will announce its benchmark interest rate.
Then, the release of the trade balance by the Central Statistics Agency (BPS), and the announcement of the monetary policy of the Japanese central bank (Bank of Japan / BoJ), as well as the British central bank (Bank of England / BoE). (uli / agi)
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