"Sentiments particularly from the outcome of the FOMC (Federal Open Market Committee) meeting yesterday are very positive for emerging market currencies as the market believed that the Fed Fund rate will not increase this year," Bank Mandiri analyst Rully Arya Wisnubroto said here on Friday.
Meanwhile, the announcement of the January 2019 inflation caused the rupiah to strengthen against the US dollar
"The January inflation also served as a positive sentiment to the rupiah," he said.
The Central Statistics Agency (BPS) announced earlier in the day the country`s inflation rose 0.32 percent in January 2019 partly due to an increase in the prices of fresh fish, rice, and vegetables.
The January 2019 inflation brought the calendar inflation to 0.32 percent and year-on-year inflation to 2.82 percent.
The inflation in January 2019 was relatively low as compared to 0.62 percent in January 2018 and 0.97 percent in January 2017.
Wisnubroto predicted the positive sentiments will still influence the movement of the rupiah next week.
On Friday morning, the rupiah opened lower at Rp13,945 against the dollar and further moved up, Throughout Friday the rupiah traded within a range of Rp13,945 to Rp13,985 against the dollar.
Reporting by Citro Atmoko, Suharto
Reporter: Antara
Editor: Fardah Assegaf
Copyright © ANTARA 2019
