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View all search resultsSecurities firm Mandiri Sekuritas, a subsidiary of state-owned lender Bank Mandiri, has estimated that the Jakarta Composite Index (JCI) will hit by the end of 2019 a level of 7,000, which would be a 12 percent increase from last year’s position.
The rupiah’s volatility will continue next year because the country is unlikely to narrow its current account deficit, which is expected to reach 3 percent of the gross domestic product (GDP) by the end of this year as the result of an unstable exchange rate throughout 2018, analysts say.
Bank Indonesia (BI) Governor Perry Warjiyo estimates the rupiah exchange rate will range between Rp 14,800 and Rp 15,200 per US dollar in 2019, which is a revision of BI’s projection in September of between Rp 14,300 and Rp 14,700.
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