Rupiah strengthened up to 84 points to IDR 13,878 per US Dollar

News24xx.com - One of the money market observers of Bank Woori Saudara Indonesia, Rully Nova in Jakarta, on Tuesday afternoon, April 24th, said, "The existence of Bank Indonesia intervention in the FOREX market makes the movement of the rupiah stregthened against the US dollar."

"Bank Indonesia is quite vigilant in keeping the rupiah exchange rate stable so it will not interfere with the national economic activity so that national economic growth can be achieved according to the target" he said.

He mentioned, the auction of government securities held on this day also helped push the rupiah position.

"Indonesia has a positive economic outlook, let alone supported by Indonesia's debt rating which is in the investment grade level, so the SUN will be absorbed by the market" he explained.

Indonesia's economic situation is still conducive enough to have a positive impact for the rupiah for the medium and long term. "In intraday, the movement of rupiah will fluctuate along with the sentiment which arises, but for the medium and long term rupiah is still in a positive trend" he continued

Rully Nova said that in the short run, money market participants tend to focus on the US central bank (Fed) related to its policy interest rate is rumored to rise in the near future.

Meanwhile, in the middle rate of Bank Indonesia on Tuesday, April 24th, 2018, noted the rupiah exchange rate weakened to IDR 13,900 compared to the previous position of IDR 13,894 per US dollar.

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