- VIVAnews/Tri Saputro
VIVAnews – The Rupiah’s exchange rate has in the last few days appreciated against US dollar.
The Indonesian Rupiah was valued at Rp8,472 against US dollar today at 12 p.m. Jakarta interbank spot market rates the rupiah between Rp8,462 and Rp8,505 against US dollar.
In the mean time, according to Bank Indonesia, Rupiah is worth Rp8,489 against US dollar. Since the beginning of the week until today, Rupiah’s rate against US dollar continued increasing from Rp8,528 as of July 25 to Rp8,521 as of July 26.
The government sets a mean Rupiah rate at Rp9,250 against US dollar. Previously, the government proposed Rupiah’s rate in the 2011 Revised State Budget to be between Rp8,800 and Rp9,000 against US dollar.
“The appreciation of Rupiah is more because of capital inflow,” money market observer Steve Susanto told VIVAnews, Wednesday.
Steve was of the opinion that Rupiah’s strengthening going below Rp8,500 against US dollar was more because of the depreciating US dollar against all foreign currencies.
Rupiah’s appreciation, he went on, was likely to be welcomed by importers. The reason for this is that almost 60 percent Indonesian products are imported, so traders could buy goods at cheaper price.
Furthermore, the weakening US dollar is also likely to cushion inflation rate in Indonesia.
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Translated by: Indah Lestari
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