Rupiah Predicted to Strengthen Following Asian Stock Index and Tapering Sentiment

TEMPO.CO, Jakarta – Exchange rate (exchange rate) rupiah transacted between banks in Jakarta at the beginning of the week has the potential to strengthen, overshadowed by the tapering sentiment of the Fed and the potential default of property developer China Evergrande.

This morning, the rupiah weakened by 2 points or 0.02 percent to Rp. 14,260 per US dollar compared to the position at the close of the previous trade of Rp. 14,258 per US dollar.

“Global financial market sentiment towards risk assets appears to be improving this morning with the strengthening of Asian stock indices and regional exchange rates against the US dollar. The rupiah may also strengthen against the US dollar with this improvement in sentiment,” said money market analyst Ariston Tjendra when contacted in Jakarta, Monday 27 September 2021.

According to Ariston, the situation pandemic improvement in the domestic market also supported the strengthening of the rupiah.

“But maybe the gains aren’t that deep because the market is still worried about the potential for default Evergrande and the attitude of the US Central Bank which will carry out tapering later this year,” said Ariston.

Domestically, the number of daily COVID-19 cases on Sunday increased by 1,760 cases, bringing the total number of confirmed cases of COVID-19 to 4.2 million.

The number of cases died due to exposure to COVID-19 reached 86 cases bringing the total to 141,467 cases.

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