Monday, 21 Rabiul Awwal 1441 / 18 November 2019

Monday, 21 Rabiul Awwal 1441 / 18 November 2019

Rupiah ends weaker on Monday on Fed fund rate sentiment

Senin 12 Nov 2018 23:04 WIB

Red: Reiny Dwinanda

Money exchange service.

Money exchange service.

Foto: Republika/Prayogi
Rupiah lose 167 points against US dollar on Monday.

REPUBLIKA.CO.ID, JAKARTA -- The Indonesian currency rupiah closed weaker in inter-bank transactions on Monday losing 167 points against the U.S. dollar. The currency traded at the level of 14,835 per U.S. dollar falling in value from the level of 14,668 earlier.

Chief researcher of Monex Investindo Futures Ariston Tjendra said the U.S. dollar gained over the majority currencies in the world including rupiah on market expectation of an increase in the U.S. inflation.

"The U.S. inflation data would be released this week and the inflation is expected to increase to follow the rise in the consumer prices in October," he said.

The dollar is expected to gain with the Fed plan to raise its fund rate and optimistic economic data of the world's largest economy. However, the dollar rise would be limited on election data that tended to trigger change in political map in that country with the Democrats garnering more voted at the House of Representatives.

"The legislative agenda of President Donald Trump could be hampered at the Parliament," he said.

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