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Jakarta, CNN Indonesia – Rupiah returned to the range of 14,233 Rp per US dollar in the spot market today open Thursday (28/6). Yesterday, the rupee fell by 14,200 Rp per US dollar in the framework of the regional presidential election (Pilkada) Meanwhile 2018.
Reza Priyambada, Analyst, Binaartha Sekuritas rupiah weakening this will continue because of the feeling of the hot trade war between the United States and China. As a result, the currencies of both countries have fluctuated with a stronger trend of the US dollar.
This then gives an impact to the rupiah. As a result, the rupiah is also under pressure from strengthening the currencies of other countries that are considered a safe haven against the US dollar and the Chinese renminbi.
"Market participants have turned to other safe haven currencies, especially the Japanese yen, as fears of a US-China trade war will disrupt the volatility of both currencies," he said. .
Other positive feelings come from the interior of the country. According to him, the market is actually exposed to the impact of government pessimism that predicts that economic growth in the second quarter of 2018 is not as high as previously thought.
"Although Sri Mulyani projects the economic growth of Indonesia in the second quarter could reach 5.2%, better than the first quarter of 5.06%," he explained.
In this way, the rupiah movement is only waiting for the last feeling coming from Bank Indonesia (BI). The national central bank will announce a rise in benchmark interest rates over the weekend at the meeting of the Board of Governors (RDG).
In Asia, most currencies have strengthened against the US dollar. From the Singapore dollar 0.01%, the Thai baht 0.03% and the Japanese yen 0.17%. The South Korean won fell 0.37% and the Malaysian ringgit 0.19%.
Different things are happening in developed countries, the majority has just strengthened: the Russian ruble 0.4%, the Australian dollar 0.08%, the European euro 0.09% and the Swiss franc 0.09% .
(Lav)
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