Friday, 16 November 2018 | 01:29 WIB

US Tax Reform Approved, Dollar Presses Down Rupiah


JAKARTA, NNC - The opening of trading on Wednesday (12/6/2017) saw the rupiah weakened against the United States (US) dollar.

Traded rupiah declined 10 points to IDR13,529 per US dollar, compared to the previous IDR13,519 per US dollar.

Binaartha Sekuritas’ Analyst Reza Priyambada, said the rupiah’s stalled movement was in line with the start of optimism about the legalization of US tax reform program.

"The certainty of the tax reform program in the United States supported the US dollar appreciation," he said.

Nevertheless, according to him, the weakening of rupiah was relatively limited in line with the positive impact of Indonesia's inflation data that was well maintained according to the government's target of four percent with a deviation of one percent.

Indonesia Statistics (BPS) recorded the inflation rate in November 2017 to be 0.2 percent. Thus, the inflation rate for calendar year January-November 2017 reached 2.87 percent and year-on-year inflation of 3.3 percent.