This Morning, Rupiah Strengthened to Rp13,607/USD

Ade Hapsari Lestarini    •    Selasa, 27 Oct 2015 11:25 WIB
This Morning, Rupiah Strengthened to Rp13,607/USD
An employee at a moneychanger counts Indonesian rupiah on September 29, 2015. (Photo: AFP / Romeo Gacad), Jakarta: The movement of rupiah against US dollar at the opening of trade this morning was stronger.

Quoting Bloomberg, Tuesday (10/27/2015), rupiah opened stronger at Rp13,607 per USD, if compared to the weakening movement yesterday at the position of Rp13,648 per USD.

Rupiah was seen gaining 19 points, or equal to 0.14 points to the position of Rp13,629 per USD. However, the movement range of rupiah this morning is at around Rp13,557 to Rp13,635 per USD, with the ytd return of 10.17 percent.

Meanwhile, based on Yahoo Finance data, rupiah was opened stable at the level of Rp13,619 per USD. Rupiah gained 36.5 points or 0.27 percent to the same position.

Research result from Samuel Sekuritas elaborated that rupiah condition had weakened until Monday afternoon despite gaining slightly on the same day. The positive sentiment which was received especially to the stock market following the interest rate cut by PBoC had not fully given strengthening effect to the currency in Asia.

"The PBoC interest rate cut previously was followed by yuan devaluation, which at the time boosted sharp depreciation of the currency against US dollar," said Samuel Sekuritas analyst, Rangga Cipta.

Rupiah's high volatility will still occur prior to the FOMC meeting in the middle of this week, however today, the sentiment of dollar weakening may help rupiah to gain.