TEMPO.CO, Jakarta – The rupiah is projected to strengthen against the US dollar in today’s trade, September 11, 2023. Money market analyst Ariston Tjendra predicted the rupiah to gain towards a rate of Rp15,300 per US dollar, resisting at a level of Rp15,330 per dollar.
“This morning, the USE dollar is seen to have weakened against major currencies like the euro, British pound, and others. The US dollar will likely consolidate after strengthening last week, as it waits for the USA’s latest inflation data that will be released on Wednesday and Thursday,” he said in Jakarta, Monday.
Market expectations are saying the US inflation will rise in August, higher from July’s inflation hike.
The US Consumer Price Index (CPI), not yet released, is predicted at 3.6 percent (yoy), increasing from the previous score of 3.2 percent. The Produce Price Index (PPI), set to release on September 14, is projected at 1.2 percent, up from the previous score of 0.8 percent.
Meanwhile, the rupiah’s interbank currency rate weakened by 0.20 percent on Monday morning in Jakarta, trading lower by 30 points at Rp15,358 per US dollar. However, Ariston predicts the rupiah will strengthen along with regional currencies’ gain on the greenback.
“This is likely triggered by a statement from Bank of Japan’s governor suggesting an end to its negative interest rates policy, which pushed the Yen to appreciate against the US dollar,” he said.
ANTARA
Editor’s Choice: Rupiah Gains Over New Rule on Exports’ Forex Proceeds
Click here to get the latest news updates from Tempo on Google News
