Rupiahs Chances for an Appreciation Remains Wide Open on Tuesday

The Head of Research for NH Korindo Securities Indonesia, Reza Priyambada said that the Rupiah is expected to experience some significant appreciation throughout Tuesdays trading session. The Rupiah is expected to hover between Rp13.120 and Rp13.165 per US Dollar. In light of the JCIs depreciation that is driven by the mass unloading of shares of companies with large capitalisations by investors - particularly in the banking sector - the Rupiah could still see some positive movements throughout Tuesdays trading session, said Reza on Monday, April 12, 2016. According to Reza, the reason behind the Rupiahs appreciation is the US Dollars depreciation against the Japanese Yen. Bank of Japan (BoJ) efforts to rein in its currency has so far yielded minimum effect, and the Yen has continued to appreciate. Furthermore, continued Reza, the Rupiah is also appreciating because the prices of several global commodities have gone up. We hope that the appreciation is not a glitch, and the trend will remain so people wont use it to speculate and/or attempt to take profit from its appreciation in recent days, he said. Despite the general outlook, Reza has continued to ask market players to be aware of other sentiments that may impact the Rupiahs movements throughout the day. On Mondays close, Bank Indonesia (BI) middle rate stood at Rp13.134 per US Dollar -  up from its previous position on Friday at Rp13.169 per US Dollar.



April 16, 2016

Bank note current rate:
  currency buy sell
GBP 18,300 18,530
AUD 10,550 10,670
HKD 1,651 1,708
USD 13,250 13,360
MYR 3,325 3,400
CAD 10,500 10,700
SGD 10,000 10,200
EURO 16,225 16,365
SFR 13,650 13,880
YEN 119.50 120.70
NZD 9,525 9,730
THB 405 427
NT 435 463
WON 11.59 12.75
DKK 2,068 2,195
SEK 1,580 1,660
BND 9,950 10,200
NOK 1,619 1,700
SAR 3,406 3,560
PHP 244 263
RMB 2,000 2,087
INR 159 209
RUB 178 235
AED 3,502 3,640
   Last Updated :22 Jan 2018 - 10:42 AM
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