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 strengthens to Rp 14,380 per US dollar ahead of FOMC meeting

News Desk (The Jakarta Post)
Jakarta
Wed, December 19, 2018 Published on Dec. 19, 2018 Published on 2018-12-19T14:07:45+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 strengthens to Rp 14,380 per US dollar ahead of FOMC meeting A customer counts US dollars at a money changer at the ITC Kuningan shopping center in South Jakarta. (Antara/Puspa Perwitasari)

A

head of a Federal Open Market Committee (FOMC) meeting, the rupiah strengthened on Wednesday to Rp 14,380 per United States dollar, sitting 0.91 percent stronger than its position on Tuesday, according to the Jakarta Interbank Spot Dollar Rate (JISDOR).

Futures firm Monex Investindo Futures analyst Putu Agus Pransuamitra said the rupiah appreciation was caused by a weakening US dollar index sparked by speculation that the Federal Reserve might take a dovish position during the meeting.

“The banking sector, analysts and market players also project that the Fed will only hike its reference rate twice next year. It puts the US dollar under pressure ahead of the FOMC meeting,” Putu said as quoted by kontan.co.id on Wednesday.

He said the decline of crude oil prices had also created positive sentiments for the Indonesian currency because it would help ease the burden of the country’s imports and narrow the trade balance.

Putu had estimated that the rupiah exchange rate would be between Rp 14,325 and Rp 14,435 per US dollar on Wednesday.

The Federal Reserve is expected to announce its decision on Wednesday in the United States or early Thursday in Indonesia. (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.