Rupiah exchange rate strengthens by four points before year-end

Rupiah exchange rate strengthens by four points before year-end

Illustration: A foreign exchange worker checks the Rupiah and US Dollar banknotes in Jakarta. ANTARA FOTO/Puspa Perwitasari/kye/am/gtm

Jakarta (ANTARA) - The rupiah was quoted at Rp13,948 per US dollar, up 0.3 percent, or strengthening by four points, from Rp13,952 earlier in the Jakarta Interbank market on Monday morning, a day before the year-end holidays.

"During trading activities today, the rupiah may continue to strengthen until the end of the year," Director of PT Garuda Berjangka Securities Ibrahim Assuaibi projected in Jakarta, Monday.

He forecast the rupiah to hover between Rp13,920 per US Dollar and Rp13,970 per US Dollar.

Ahead of the year-end holidays, investors may choose to adopt a wait-and-watch policy amid the market slowdown. In the meantime, on the external front, market optimism has risen following the first phase of trade deal between China and the United States announced this month. However, both nations have yet to formally ink the deal. (INE)

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