TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Rupiah slightly strengthens on Monday afternoon
The rupiah exchange rate strengthened by five points to Rp 11,573 per US dollar from Rp 11,578 on Monday afternoon
Change Size
The rupiah exchange rate strengthened by five points to Rp 11,573 per US dollar from Rp 11,578 on Monday afternoon.
'Risk aversion maintained the strengthening of the rupiah against the US dollar,' said Monex Investindo Futures head of research Ariston Tjendra in Jakarta on Monday as quoted by Antara news agency.
He said the risk aversion took place along with the spread of expectations over slowing global economic growth following the release of data on manufacturing in several countries in Asia, such as China, Japan, South Korea and Taiwan, which had continued to shrink.
On the other side, Ariston said, political tensions between Ukraine and Russia had added to investors' worries so that they released several risky assets to switch to other assets that were much safer.
He added the limited nature of the rupiah's strengthening had also been triggered by domestic market players' actions, which had started to be cautious over risky assets.
Trust Securities head of research Reza Priyambada added the rupiah was still comfortable on its positive track although January's balance of trade suffered a deficit following a decline in exports.
'The rupiah is still in the positive area although being limited,' said Reza.
The Bank Indonesia (BI) median rate on Monday recorded that the rupiah strengthened to Rp 11,596 per US dollar from Rp 11,634. (ebf)
