Slumping, Rupiah Heads Towards Rp14,300/USD

Ade Hapsari Lestarini    •    08 September 2015 11:21 WIB
Slumping, Rupiah Heads Towards Rp14,300/USD
A bundle of Indonesian rupiah banknotes are seen at an office of money changer in Jakarta on August 27, 2015. (Photo: AFP / ADEK BERRY), Jakarta: The movement of rupiah currency at the opening this morning showed weaker, if compared to the previous movements.

Quoting Bloomberg, Tuesday (9/8/2015), rupiah was even closer to the level of Rp14,300 per USD. This morning, rupiah opened weak at Rp14,263 per USD if compared to the previous trade.

This morning, it reached Rp14,287 per USD. Rupiah weakens 21.6 points, or equal to 0.15 percent. The movement of rupiah is at around Rp14,263-Rp14,297 per USD.

Meanwhile, based on Yahoo Finance data, rupiah this morning was opened at Rp14,310 per USD. Based on this data, it has weaken 19.5 points, or equal to 0.14 percent.

Head of Research at NH Korindo Securities Indonesia, Reza Priyambada, in his research statement said that the declining foreign exchange reserves perceived to stabilize Yuan following its devaluation has given negative sentiment to the Asian currencies, including rupiah.

"Not only that, the USD exchange again soared after Yen and Swissfranc experienced decline. The expectation of Indonesian foreign exchange reserve has also added to the negative sentiment," said Reza.

Observing the situation, investors are urged to pay close attention to the sentiment being released, as it would have a negative impact on Rupiah movements. "During the day, Rupiah will be at the level of Rp14,187-14,174 per USD (BI Middle Currency)," stated Reza.


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