The main sentiment at the moment is the political situation after the presidential elections
Jakarta (ANTARA) –
The rupiah against the US dollar closed earlier in the week amid sentiment ahead of Indonesia’s presidential and vice-presidential elections on February 14, 2024.
In late trade on Monday, the rupee gained 40 points or 0.26 percent to Rs 15,595 per US dollar from the previous close of Rs 15,635 per US dollar.
“The main sentiment at the moment is the political situation after the presidential election,” currency analyst Lukman Leong told ANTARA in Jakarta on Monday.
According to him, if the presidential elections are held successfully without chaos, the rupee will have an opportunity to strengthen. Investors are waiting and will watch the process of holding elections for the President and Vice President of the Republic of Indonesia.
On the other hand, the rupee strengthened on a correction in the US dollar after the US inflation data for December 2023 was revised down from 0.3 percent to 0.2 percent last Friday.
“However, the upside may be limited given investor concerns about the 2024 presidential election,” Lukman said.
Bank Indonesia’s Jakarta Interbank Dollar Rate (JISDOR) rose to 15,612 rupiah per US dollar on Monday from 15,685 rupiah per US dollar earlier.
Reporter: Marta Gerlinavati Simanjuntak
Editor: Faisal Yunyanto
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