JAKARTA (Yosefardi) – Bloomberg chart shown the rupiah was traded at Rp11,688 against the US Dollar at 10.42 am, Jakarta time Monday (Feb 17), compared to previous close of Rp11,831.
Bank Indonesia also sets rupiah at Rp11,716 for the Jakarta Interbank Spot Dollar Rate today, lowest since early last month.
The rupiah is mainly supported by the current account deficit which dropped significantly by 1,98% in fourth quarter of 2013. This figure will improve alongwith the positive prospect of global economy.
Bank Indonesia has last week decided to keep its benchmark BI Rate at 7.5% for four consecutive months, then helping the rupiah.
Other factors also supporting rupiah are positive economic data of Indonesia such as trade deficit, foreign exchange reserves, and improved economic growth.