Rupiah will be likely traded at Rp14,132 and Rp14,198 per US dollar todayJakarta (ANTARA) - The rupiah exchange rate to the US dollar in the Jakarta interbank market was on Wednesday projected to remain stable on account of the prevailing stable conditions in the country.
The Indonesian currency opened 10 points or 0.07 percent lower at Rp14,185 per US dollar on Wednesday compared to Rp14,152 per US dollar at the close of the previous trade.
“Rupiah will be likely traded at Rp14,132 and Rp14,198 per US dollar today,” money market analyst at PT Bank Mandiri, Rully Arya Wisnubroto, told ANTARA here on Wednesday.
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In general, the national economic condition is deemed stable as investor trust has tended to improve and the pandemic handling is under control, he noted.
The COVID-19 Handling Task Force has reported an increase of 611 COVID-19 cases nationwide as of Tuesday (October 26, 2021) with Central Java recording the highest number of infections.
Meanwhile, the number of single-day recoveries has been pegged at 1,141 and deaths at 35.
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Thus, the total number of coronavirus cases in Indonesia since the start of the pandemic in March 2020 has reached 4,241,090, with 4,084,831 recoveries and 143,270 deaths.
With the low COVID-19 cases boosting sentiment, foreign capital has continued to flow into Indonesia’s stock market, according to Wisnubroto.
“The market is awaiting inflation data—predicted to remain stable—that will be published next Monday,” he said.
Hence, the positive developments in the country can help contain volatile global developments, he remarked.
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Translator: Agatha Olivia, Juwita Trisna
Editor: Fardah Assegaf
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