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 recovers further, rising above 14,800 per US dollar

The rupiah is continuing to regain strength, changing hands at Rp 14,764 per United States dollar on Wednesday.

News Desk (The Jakarta Post)
Jakarta
Wed, November 7, 2018 Published on Nov. 7, 2018 Published on 2018-11-07T13:28:35+07:00

Change text size

Gift Premium Articles
to Anyone

Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
Rupiah recovers further, rising above 14,800 per US dollar A money changer serves a customer at the ITC Kuningan shopping center. (Antara/Puspa Perwitasari)

T

he rupiah is continuing to regain strength, changing hands at Rp 14,764 per United States dollar on Wednesday, according to the Jakarta interbank spot dollar rate (JISDOR).

The currency had been quoted at Rp 14,891 per US dollar on Tuesday and Rp 14, 972 on Monday, indicating a recovery trend since Oct. 30, when it was still quoted at Rp 15,237 per US dollar.

Bank Indonesia Deputy Governor Dody Budi Waluyo said on Tuesday that the rupiah's appreciation was supported by a combination of external factors and positive domestic economic sentiment.

A meeting between US President Donald Trump and Chinese President Xi Ping was expected to put an end to the trade war, while the recent release of GDP data was buoying domestic sentiment, pointing to annual growth of 5.17 percent.

Meanwhile, futures firm Monex Investindo Futures analyst Faisyal said the midterm elections in the US had put pressure on the US dollar, as investors were reluctant to invest their money in the greenback.

He added that the rupiah was also benefiting from lessening concern about Brexit after the United Kingdom and the European Union were close to an agreement.

Dody declined comment on what the latest recovery of the rupiah may mean for BI’s interest rate policy. He said BI was taking into account many factors, including moves by the US Federal Reserve, which was likely to increase its key rate. “It depends on our assessments in the future. We will discuss it at our meeting,” he added as reported by kontan.co.id. (bbn)

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.

Share options

Quickly share this news with your network—keep everyone informed with just a single click!

Change text size options

Customize your reading experience by adjusting the text size to small, medium, or large—find what’s most comfortable for you.

Gift Premium Articles
to Anyone

Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!

Continue in the app

Get the best experience—faster access, exclusive features, and a seamless way to stay updated.