Analysts Project Rupiah Rebound to 13,800/US$

Analysts are predicting the rupiah to rebound during today’s trade, June 7. The projections are based on the lack of major positive sentiments from the US, and the greenback index’s decline.

Bank Mandiri money market analyst Reny Eka Putri estimated the rupiah to trade between 13,800 and 13,870 per US dollar based on said reasons, supported by Bank Indonesia’s (BI) policy to intervene the market.

Reny said the rupiah is also propped up by positive macroeconomic data such as yesterday’s release of the consumer confidence index that showed improvements.

Indef economist Bhima Yudhistira Adhinegara also predicted the rupiah to strengthen moderately and move within the range of 13,780-13,880.

“The strengthening of the rupiah is driven by the US dollar’s depreciation against several currencies, especially the Euro and the Singapore dollar, throughout the week,” Bhima said.

BI’s official website showed that the Jakarta Interbank Spot Dollar Rate (JISDOR) saw the rupiah being traded for 13,875 per US dollar on Tuesday’s close, up 12bps from the previous day.

courtesy : Tempo.co
photo : Okezone Ekonomi

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