Eight tranches of the economic policy package launched by the government since September are believed to be one of the factors to have led to the rupiahs strengthening against the dollar, money market analyst Lucky Bayu Purnomo of LBP Enterprises stated here on Wednesday.
"The rupiah has strengthened to reach a level of below Rp14 thousand per dollar during the past few days," he remarked.
Certainty over the Federal Reserves step to raise its interest rate has led to a stable fluctuation in the money market in risk-prone countries, including Indonesia, he said, adding hopefully that the certainty would also encourage the global economy.
Economist Rangga Ciota of Samual Sekuritas believes that Bank Indonesias decision to increase dollar supplies in the foreign currency market is one of the factors that have led the Indonesian currency to stay within a positive area.
"Bank Indonesia is still focusing on keeping the rupiah stable to maintain the domestic economy," he remarked.
Moreover, Indonesias economic outlook has also added to the rupiahs strengthening against the dollar, he stated.(*)
Editor: Heru Purwanto
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