Rupiah Moves This Morning Is Moving Down Ahead Of The US-China Agreement

Illustration. (Photo: Bank Indonesia)

JAKARTA - The exchange rate (exchange rate) of the rupiah transacted between banks in Jakarta on Wednesday, January 15, is predicted to weaken consolidation, because it is still waiting for the signing of the US-China trade agreement.

According to VOI, the rupiah at 9:50 a.m., moved down 40 points or 0.29 percent to Rp.13,720 per US dollar compared to the previous position at Rp.13,680 per US dollar.

Head of Research at PT Monex Investindo Futures Ariston Tjendra said, prior to the signing of the agreement, some instrument prices were consolidating, including the rupiah against the US dollar.

"Consolidation can be interpreted as not too strong," said Ariston to VOI, Wednesday, January 15.

He said concerns arose after the US Treasury Secretary said overnight China's import tariffs would not be removed until the second phase was agreed and a second phase agreement might occur after the US election.

In addition, the release of Indonesia's trade balance data today can also be a driving factor for the rupiah. "The consensus deficit was 470 million dollars. The release of a deficit that was bigger than the consensus could hold back the strengthening of the rupiah," said Ariston.

Ariston estimates that the rupiah today will move in the range of Rp.13,600 per US dollar to Rp.13,700 per US dollar.