Rupiah strengthens following Constitutional Court's decision

Rupiah strengthens following Constitutional Court's decision

An employee showed the currencies of US dollar and Indonesian ruipah at a money changer counter in Jakarta recently (ANTARA PHOTO/Galih Pradipta) (Antaranews.com/bp)

Although the rupiah strengthened, the Constitutional Court's verdict actually did not have much effect because the market participants were relatively predictable and did not become a big issue on the money market today.
Jakarta (ANTARA) - The exchange rate of the rupiah traded on the Jakarta inter-bank market over the weekend strengthened after the decision of the Constitutional Court relating to the dispute over the 2019 Presidential Election. The rupiah strengthened 14 points or 0.1 percent to Rp14,126 per United States (US) dollar from the previous Rp14,140 per US dollar.

Although the rupiah strengthened, the Constitutional Court's verdict actually did not have much effect because the market participants were relatively predictable and did not become a big issue on the money market today, Bank Mandiri analyst Rully Arya Wisnubroto said here Friday.

Market participants are, in fact, awaiting the meeting of US President Donald Trump and Chinese President Xi Jinping on the sidelines of the G20 Summit in Osaka, Japan, according to Wisnubroto.

The rupiah opened at Rp14,139 in the morning. Throughout the day, it moved in the range of Rp14,102 per US dollar to Rp14,145 per US dollar.

Meanwhile, the central exchange rate of Bank Indonesia Friday showed that the rupiah weakened to Rp14,141 per US dollar compared to the previous day at Rp14,180 per US dollar. (INE)

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