Today, the market is awaiting the publication of data of the domestic inflation in January 2022 projected to experience a significant increase of two percent due to the rising food prices.
Jakarta (ANTARA) - The rupiah exchange rate to the US dollar traded at the Jakarta interbank market strengthened following the inflation data in January 2022 to be released by Indonesia Statistics on Wednesday afternoon.

The Indonesian currency opened 37 points, or 0.26 percent higher to reach Rp14,331 per US dollar as compared to Rp14,368 per US dollar at the close of the previous trade.

“Today, the market is awaiting the publication of data of the domestic inflation in January 2022 projected to experience a significant increase of two percent due to the rising food prices,” Bank Mandiri’s money market analyst, Rully Arya, informed ANTARA here on Wednesday.

On the domestic scale, the market players were also keeping a close eye on developments pertaining to the number of COVID-19 positive cases that recorded a surge again in Indonesia, he remarked.

The number of confirmed positive cases for COVID-19 in the country as of Tuesday (February 1, 2022) touched 16,021, thereby taking the total to 4.34 million cases. Meanwhile, the number of confirmed Omicron cases reached 2,980.

“The increasing cases will also influence domestic sentiments,” Arya noted.

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On the other hand, global sentiments will still have major impacts on the rupiah’s movement today, he remarked.

“The US treasury yields and USD indexes (DXY) movement especially tended to experience an increase in the recent few days,” he noted.

Arya remarked that the rupiah today will likely be traded at Rp14,355-Rp14,398 per US dollar.

On Monday (January 31, 2022), the rupiah closed seven points, or 0.05 percent higher to reach Rp14,368 per US dollar as compared to Rp14,375 per US dollar during the previous trade's closure.

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Translator: Citro Atmoko, Juwita Trisna
Editor: Rahmad Nasution
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