Thursday, 5 Syawwal 1441 / 28 May 2020

Thursday, 5 Syawwal 1441 / 28 May 2020

Friday, Rupiah strengthens 58 points to Rp14,791 per dollar

Sabtu 22 Sep 2018 08:20 WIB

Red: Reiny Dwinanda

Money exchange service.

Money exchange service.

Foto: ANTARA/Rivan Awal Lingga
The rupiah traded at Rp14.849 per dollar earlier.

REPUBLIKA.CO.ID, JAKARTA -- The Indonesian rupiah rose 58 points to close at Rp14,791 per dollar in the Jakarta inter-bank spot market on Friday evening, as fear over the US-China trade war subsided. The easing fear over the trade war prompted investors to eye risky currencies including the rupiah, money market analyst Faisyal of Monex Investindo Futures said here on Friday.

"As a result, risky asset markets in developing nations showed a good performance," he said.

However, sentiments towards the Fed Rate hike restricted the appreciation of developing nations' currencies, including the rupiah. "If investors consider a potential increase in the Fed Rate during the FOMC meeting next week, the appreciation of the domestic currency will be retained," he said.

The rupiah traded at Rp14.849 per dollar earlier.

Also read: Rupiah weakens due to external factors: Jokowi

Senior analyst of CSA Research Institute Reza Priyambada said the rupiah's appreciation was also driven by sentiments toward the assessment by the World Bank, which predicted the Indonesian economic growth at 5.2 percent.

"The World Bank opined that stronger domestic demand in Indonesia will continue to drive economic growth," he said.

According to Bank Indonesia's mid rate, the rupiah strengthened to Rp14,824 per dollar on Friday compared to Rp14,839 per dollar the day before.

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