Rupiah Hits Rp14,700/USD

Ade Hapsari Lestarini    •    Rabu, 23 Sep 2015 12:30 WIB
Rupiah Hits Rp14,700/USD
An employee of BNI bank, an Indonesian state-owned bank, prepares rupiah dan dolar banknotes, September 15, 2015 (Photo: Antara / Yudhi Mahatma), Jakarta: Rupiah movement this morning has sunk deep, as it was only an inch away from Rp14,700/USD.

Quoting Bloomberg data, Wednesday (9/23/2015), rupiah this morning opened weak at the position of Rp14,597 per USD. However, rupiah sunk 88 points, or equal to 0.60 percent to the position of Rp14,640 per USD.

Similarly, based on Yahoo Finance data, rupiah trade value against US dollar had also slumped to the level of Rp14,698 per USD. Garuda's currency weakened to Rp14,727 per USD, or down by 135 point or 0.93 percent. 

According to the analysis of Samuel Sekuritas, the rupiah weakening happened after the government cut growth projection, as the ADB had also cut Indonesia's growth projection to only 4.9 percent YoY and 5.4 percent YoY until 2016.

"Rupiah responded with the weakening of more than Rp14,500 per USD, although most factors came from the US dollar strengthening in the global market," explained the research.

However, yield SUN10y had also risen way up to nine percent until yesterday afternoon. The unavailability of internal positive catalyst for rupiah had made the global dollar strengthening factor to return in adding the pressure of today's weakening.


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