"Despite the fall today, the rupiah exchange rate has been positive this week," the state-owned Bank Mandiri's analyst, Rully Arya Wisnusubroto said in Jakarta. On the external front, the phase one trade deal inked by the U.S. and China on Wednesday, January 15, has contributed positively to the Indonesian currency.
Following the trade deal, China promised to import American goods, worth US$200 billion, for the subsequent two-year period, one of which include US$40 billion worth of agricultural products.
Besides the trade deal, China's economic growth at 6.1 percent that the global market had been expecting, also influenced the rupiah exchange rate this week.
On Friday morning, the rupiah opened higher at Rp13.634 against the dollar and throughout the day it moved between Rp13.634 and Rp13.661 against the dollar.
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