Rupiah up slightly to Rp13,345/dollar on Friday

Jakarta (ANTARA News) - The Indonesian rupiah rose slightly by three points to close at Rp13,343 against the dollar in the Jakarta inter-bank spot market, Friday evening, compared with the previous closing of Rp13,346.

"The exchange rate of the worlds major currencies, including the rupiah, tends to be flat against the US dollar, (as investors) are waiting for the result of the meeting between the global central banks in Jackson Hole by the end of this week," Platon Niaga Berjangka analyst Lukman Leong said here, Friday.

In general, market players are waiting for a signal for the meeting, which may encourage the global economy to become better. One of the much-awaited policies is related to the Fed rate, he affirmed.

"Market consensus on the Fed rate hike is still divided. However, the majority of observers have concluded that there will be no interest hike until the end of this year," he stated.

Judging by the situation, the movement of the US dollar will tend to be flat. Therefore, the rupiah will have the chance to appreciate against the dollar.

He noted the Indonesian economy performed quite well when the inflation rate could be kept under control. The controllable inflation rate can improve the peoples purchasing power, which will eventually maintain the national economic growth, he remarked.

Source: ANTARA News

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