Saturday, 20 April 2019 | 19:56 WIB

Rupiah Appreciates against Dollar as Q3 2017 GDP is Positive

Rupiah Banknotes.

JAKARTA, NETRALNEWS.COM - On trade opening, Tuesday (11/7/2017), the rupiah exchange rate against the US dollar moves in positive territory.

The rupiah currency today went up 28 points to IDR13,496 against the dollar.

Binaartha Securities analyst Reza Priyambada said the rupiah against the dollar appreciated as market players responded positively to the announcement of data on Gross Domestic Product (GDP) for the third quarter of this year.

Central Statistics Agency (BPS) announced during the third quarter of 2017 Indonesia's economy grew 5.06 percent, year on year.

"Some money market participants are still responding positively to the growth although below expectations of analysts which is at 5.13 percent," he said.

He hopes the policy of Bank Indonesia to lower the BI rate (BI 7-Day Repo Rate) can immediately show its impact on the national economy.

"In addition, the acceleration of infrastructure projects is also expected to immediately show its impact," he said.