Indonesian CNN
Monday, April 17, 2023 9:10 AM WIB
The Rupee strengthened by 0.28% to IDR 14,704 per US Dollar on Monday (4/17) morning ahead of the Trade Balance data release. (BETWEEN PHOTOS/RENO ESNIR).
Jakarta, CNNIIndonesia —
Rupee exchange rate perched at IDR 14,704 per American dollars Monday (4/17) morning. The Garuda currency strengthened by 41 points or 0.28% from the previous trade.
Meanwhile, currencies in the Asia compact region are in the red zone. The Japanese yen weakened by 0.14%, the Thai baht by 0.10%, the Philippine peso by 0.47%, the South Korean won by 0.85% and the Chinese yuan by 0.15% .
The Singapore dollar also weakened by 0.17% and the Hong Kong dollar remained flat as markets opened this morning.
The same with the main currencies of developed countries which are compact in the red zone. The European Euro weakened 0.17%, the British Pound weakened 0.14% and the Swiss Franc weakened 0.16%.
Then, the Australian dollar weakened by 0.04% and the Canadian dollar by 0.07%.
DCFX analyst Lukman Leong believes the rupiah will weaken early in the week ahead of the Eid holiday due to rising US government bond yields.
“However, investors should pay attention to the trade data from Indonesia which will be released this afternoon and it is estimated that they will still experience a large trade surplus. The release of this data may support the rupiah against pressure from the US dollar. “, said Lukman. told CNNIndonesia.com.
Today, Lukman estimates that the Rupee will move between Rp 14,750 per US Dollar and Rp 14,900 per US Dollar.
(ldy/agt)
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