Tuesday, 23 October 2018 | 19:25 WIB

Rupiah Dips 26 Points on Wednesday Morning

Illustration: Rupiah.

JAKARTA, NNC - Rupiah exchange rate transacted interbank in Jakarta on Wednesday (7/11/2018) morning moved down 26 points to IDR14,393 compared to the previous position of IDR14,367 per dollar.

CSA Research Institute senior analyst Reza Priyambada in Jakarta said the rupiah movement was again tested for its resilience to be able to reverse the uptrend.

"The rupiah is still vulnerable to the potential for further hikes so we need to pay close attention to various sentiments, especially the movement of global currencies against USD," said Reza.

Earlier, the weakening movement of pound sterling along with disrupted internal conditions of the British administration with the resignation of two important officials linked to Brexit was used by the dollar to strengthen.

Consequently, the rupiah was affected by the weakening where the rupiah advancement failed to continue.

An appeal by one of the research institutes related to the weakening of the rupiah, which stated the need to increase export efforts to stabilize the rupiah currency as well as government measures in identifying a number of sectors affected by the US-China trade war seems not strong enough to defend the rupiah in the green zone.

"The rupiah is expected to move in the range of 14,363-14,343," Reza said.

In line with the rupiah, the Jakarta Composite Index (JCI) of the Indonesia Stock Exchange (IDX) on Wednesday was opened down by 38.77 points or 0.66 percent to 5,842.99.