Rupiah Estimated to Keep Strengthening

Dian Ihsan Siregar    •    Kamis, 01 Oct 2015 13:00 WIB
Rupiah Estimated to Keep Strengthening
A bank employee counts Indonesian rupiah bank notes in Jakarta on August 25, 2015. (Foto: AFP / ADEK BERRY), Jakarta: As aligned with the profit taking of US dollar (USD) at the global spot market, as well as the strengthening of commodity, the flow of rupiah may take benefit on the weakening of USD, to be able to strengthen.

"The profit taking and commodity keep strengthening, so the rupiah strengthen against USD," said the Head Researcher of NH Korindo Securities Indonesia, Reza Priyambada, in his research results received by, in Jakarta, Thursday (10/1/2015).

Aside from that, he continued, the rupiah value was also supported by investors, who responded positively on the Bank Indonesia policy released, as related to the plans of market intervention and offering the foreign exchange (forex) to increase USD supply.

Previously, it is conveyed that the hopes of rupiah currency strengthening seems to be suppressed temporarily, along the momentum void for rupiah to move positively. There should be cautioned of the follow up weakening, if there is no improvement of rupiah movement, while keeping watch on the sentiment of the market.

Should the previous hope of strengthening to be postponed, Reza still hopes that the rupiah movement to move as continuing the strengthening. Even so, Reza emphasized the caution of rupiah movement sentiment in the market. "In one day, the flow of rupiah is at the level of Rp14,685 to Rp14,645 per USD (BI Middle Rate)," concluded Reza.