Rupiah projected to appreciate before year-end holidays

Rupiah projected to appreciate before year-end holidays

Illustration-A foreign exchange worker checked the rupiah and US dollar bills in Jakarta. ANTARA/Puspa Perwitasari/kye/am/ac.

Jakarta (ANTARA) - The rupiah exchange rate traded among banks in Jakarta on Friday morning is forecast to continue to strengthen before the year-end holidays.

"During the weekend trading activities, the rupiah is expected to appreciate within limits," Director of PT Garuda Berjangka, Ibrahim Assuaibi, stated in Jakarta, Thursday.

On the external front, investors are seeking information on the US-China trade in order to perfect the first phase of trade deal.

Earlier, market optimism had risen yet again after news was abuzz on the first phase of trade deal between China and the United States that will soon be inked.

He forecast the rupiah to hover between Rp13,940 per US dollar and Rp13,990 per US dollar.

At 9:38 a.m. local time, the rupiah slightly strengthened by one point to Rp13,957 per US dollar from Rp13,958 per US dollar earlier. Related news: Rupiah appreciates before BI announces its meeting results
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