Rupiah Continues to ‘Backslide’ Against US Dollar in Early June

Liputan6.com, Jakarta - Indonesian Rupiah is seen to continue its negative trend with its value weakened at Rp 13.200 per US$ 1. 

Despite the unwanted trend, it is still a slight relief after it was subjugated down to Rp 13.238 per US$ 1 prior to inflation announcement.

As of today (1/6/2015), reference rate of Jakarta Interbank Spot Dollar Rate (JISDOR) from Bank Indonesia recorded Indonesian Rupiah weakened to the level of Rp 13.200 against 1 US dollar in the early days of first week in June.

Rupiah is seen to actively fluctuate in today’s trading activity commencing at a rate of Rp 13.198 to 13.238, against the US dollar.

Market analyst from PT. Bank Saudara Tbk, Rully Nova informs how May 2015 inflation reached 0,5%. Such percentage is 0,4% higher than investors initially expected. 

May inflation unfortunately yields negative domestic sentiments on rupiah exchange value in the outlook of investors.

Apart from that, Greece’s hitherto failure to pay its debt contributed to the volatility and strengthening of US Dollar. 

Uncertainty of US interest rate also worsens the condition of other monetary value.

"This mid month, there will be an Open Market Committee (FOCM) meeting to discuss volatile interest rate," Rully continued explaining.

Economist of PT Samuel Sekuritas Indonesia, Rangga Cipta predicted May inflation to rise up to 7-7,1 % as adjusted to the newly set price of fuel oil and electricity. (Akp/Tnt)