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.

Jakarta Post

Rupiah drops slightly on Friday morning

The rupiah exchange rate weakened slightly on Friday morning as investors were still waiting for the US Federal Reserve’s interest rate hike

The Jakarta Post
Jakarta
Fri, August 28, 2015

Share This Article

Change Size

Rupiah drops slightly on Friday morning

T

he rupiah exchange rate weakened slightly on Friday morning as investors were still waiting for the US Federal Reserve'€™s interest rate hike.

The rupiah dropped by 25 points to Rp 14,015 per US dollar during Friday morning'€™s trading from Rp 13,990.

'€œThe rupiah is tending to depreciate against the US dollar but it is still limited as investors are still waiting for the Fed'€™s decision to increase its interest rate in September due to the US'€™ worsening economy,'€ NH Korindo Securities Indonesia head of research Reza Priyambada said, as quoted by Antara news agency.

Yet, Bank Indonesia'€™s call for investors to sell foreign currencies had helped to prop up the rupiah'€™s value, he said.

Reza said that the rupiah still had breathing space as reports had suggested that the government planned to issue an economic stimulus package.

Plafon Niaga Berjangka analyst Lukman Leong said that investors'€™ worries over the US interest hike had eased amid the slowing down of the US and global economies.

He also added that foreign exchange investors were still waiting for the Central Statistic Agency'€™s report on Indonesia'€™s inflation rate, which would be published next week, as the figure would also determine the value of the rupiah. (ika)

{

Your Opinion Matters

Share your experiences, suggestions, and any issues you've encountered on The Jakarta Post. We're here to listen.

Enter at least 30 characters
0 / 30

Thank You

Thank you for sharing your thoughts. We appreciate your feedback.