The rupiah stood at Rp 15,178 against the US dollar on Wednesday, having strengthened 0.18 percent from a day prior, according to the Jakarta interbank spot dollar rate (JISDOR).

It is the second day the rupiah strengthened since Monday, when the exchange rate stood at Rp 15,446 per dollar.

Meanwhile, in the foreign exchange spot market, the rupiah was quoted at Rp 15,185 per dollar at 10:17 a.m. on Wednesday. 

Securities firm Samuel Sekuritas Indonesia economist Ahmad Mikail said the dollar index stood at 95.18 percent, slightly higher than Tuesday’s index, but it was on a declining trend, compared to the index last week.

Ahmad estimated the dollar index would range between 95.00 to 95.5 percent on Wednesday. 

“The dollar weakening was supported by investors’ positive sentiment toward the performance of stock markets in emerging countries as well as the bourse in the US,” Ahmad said was quoted by kontan.co.id.

He said improvements in the US stock market were expected to help strengthen the rupiah as there would be capital inflow to Indonesia through the purchase of shares and bonds.

He estimates the rupiah exchange rate to range between Rp 15,150 and 15,250 per dollar on Wednesday. (bbn)