Rupiah Regains Some of Its Lost Value against US Dollar

Jakarta, MINA — The country`s currency rupiah regained some of its lost value, trading at the level of 15,175 per US dollar in interbank transaction on Wednesday morning, strengthening from earlier level of 15,181, Antara News reported.

Economist of Samuel Sekuritas Ahmad Mikail said the US dollar tended to weaken facing a number of other world`s major currencies on speculation that investors began to react positively to the performance of stock markets in developing economies.

“Increases recorded by stock market in a number of developing economies have positive impact on rupiah and the sentiment strengthened capital inflow to the share and bond markets in Indonesia,” Mikail said.

The US bond yield which is stable at the level of 3.16 percent indicated that investors became more positive on financial reports of listed companies in stock market, he added.

Meanwhile, a senior analyst of CSA Research Institute, Reza Priyambada, said the approval of the assumption over the rupiah exchange rate at 15,000 per dollar in the draft state budget 2019 was responded positively by the market players.

In addition, the Asian Games, which contributed 0.05 percentage point to the country`s Gross Domestic Product (GDP) also gave positive sentiment that strengthened rupiah. (T/RS5/RS1)

Mi’raj Islamic News Agency (MINA)