Still in a weakening trend, Rupiah to Rp 14,500 per US dollar?

JAKARTA, KOMPAS.com – The exchange rate of the rupiah has worsened. On Thursday afternoon (28/6/2018) afternoon, the rupee exchange rate on the spot market fell by 1.52% to 14.394 Rp for one US dollar (US). Once again, Garuda's currency hit the lowest level of the year

Citing Kontan.co.id Friday (29/6/2018), badyst Monex Investindo Faisyal said that Yesterday's rupiah weakening was triggered by the strengthening of the US dollar. 19659003] "Almost all major currencies and emerging markets have weakened against the dollar," he said Thursday (28/06/2018).

Read: The weakening of the Rupiah is expected to continue

In addition, the rupee also occurred in line with the increase in the yield of securities. State (SUN). Today, the 10-year benchmark SUN yield is 7.86% or 1.69%. This allows foreign investors to withdraw funds from the domestic market.

The possibility that the Bank of Indonesia (BI) raises interest rates for the third time to the current meeting of the Board of Governors, considered Faisyal, will have little impact. "As the interest rate has gone up twice, the rupee is still not stable," he said.

Faisyal rate, the rupee continued to weaken due to depressed Indonesian trade data in May. "Imports are growing more than exports and the trade balance is still in deficit," he said.

Investors are also beginning to stand apart from the domestic market as the political year approaches. The election of regional leaders until the next presidential election has brought investors to see the potential for uncertainty in the Indonesian market in the near future.

Until the end of this year, Faisyal sees the rupee potentially weaken at the range of Rp 14,500 – Rp 15,000 per US dollar The reason, the Fed is expected to further increase rates. interest twice as much.

In addition, in August, the presidential candidate began to be established so that economic uncertainty begins to emerge.

For Friday (29/6/2018) will focus on the results of the meeting of the Board of Governors of BI. Faisyal predicts, the rupee will continue to weaken and potentially test the level of Rp 14,500 per US dollar.

This news was broadcasted on Kontan.co.id with the title: Tomorrow, Rupiah's exchange rate tested Rp 14,500 per US dollar