Indef Predict Rupiah to Weaken Heading to Eid al Fitr Celebration
Economist of the Institute for Development of Economics and Finance (Indef) Bhima Yudistira Adhinegara said that Rupiah is predicted to weaken heading towards the 2018 Eid al Fitr celebration in June to the level of Rp14,000-Rp14,200 per USD.
“The Fed will hold the FOMC in June. This year’s Fed rate might increase and continue to drive Rupiah’s weakening,” said Bhima on Tuesday, May 15. The Federal Open Market Committee or FOMC meets several times a year to discuss whether to maintain or change current policy.
According to Bhima, based on the dollar index ever since the Fed Rate increase on March, the trend seemed to be increasing from level 89 to 92.5, which shows the future trend of ever strengthening US dollar.
“The dollar index shows that the US dollar exchange rate towards 6 other most dominant currencies. Several businessmen are also starting to collect US dollar as an anticipation of a long term wakening,” said Bhima.
As previously reported, Rupiah’s exchange rate in banks throughout Jakarta on Wednesday morning, May 16, turned to Rp14,065 compared to its earlier position at Rp14,030 per US dollar.
Courtesy : Tempo.co
photo : Indonesia Post
[social_warfare buttons=”Facebook,Pinterest,LinkedIn,Twitter,Total”]
