JAKARTA (Yosefardi) – The rupiah was traded at Rp11,342 against the US Dollar this morning opening, as market players respond negatively the outcome of the election.
None of political parties came out as dominant player in the next legislative and government, then the expectation of more effective and efficient legislative and cabinet would not come as real.
However Bank Indonsia is firm that the growing economy and the improvement of external sector will help the rupiah.
BI said it will focus on helping the rupiah through market deepening like mini master repurchase agreement and hedging.
In March the average rupiah reached Rp11,420 per dollar, appreciated by 4.38% from previous month. Year to date, the rupiah has strengthened 7.13%.