Indonesia Rupiah Spot. Source: Bloomberg

The Indonesian economy has again been compliment after international media Bloomberg stated that Indonesia’s currency is the best performing currency in the world. The currency of Southeast Asia has “skyrocketed” more than 5 percent and has become the strongest in the world in the past half year. The rupiah currency is ranked runner-up with growth of almost 2 percent. The first rank is held by the baht with growth exceeding 5 percent.

The Baht managed to rise thanks to Thailand’s foreign exchange reserves of USD 207 billion, current account surplus and weakening dollar. This year the baht is predicted to remain strong. Meanwhile, the rupiah is now getting stronger and has been under Rp. 14,000. At the end of last year, the rupiah had touched Rp. 15,000.

If the strengthening of the rupiah continues, then the Indonesian currency can arguably be able to rise from adversity. Yesterday, the rupiah all day stagnated in the red zone and finished with a depreciation of 0.35%. Even the rupiah holds a ‘title’ as the second weakest currency in Asia, only superior to Philippine pesos.

This morning, Asian currencies are still moving varied. Apart from the rupiah, the currencies that also rose were the Japanese yen, the South Korean won, the Thai baht, and the Taiwan dollar.

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But the strengthening of 0.11% is enough to bring the rupiah into the ranks of the elite Asian currency standings. Rupiah occupied the runner-up position, only lost to the won. Yesterday the second lowest, now the rupiah is in second place from above.

PT Bank Central Asia Tbk (BCA) hopes that the exchange rate fluctuations against the US dollar will not be too sharp in 2019. This is because the fluctuation of the rupiah exchange rate against the US dollar is considered to be troublesome for businessmen who are also BCA customers.

BCA Director Henry Koenaifi said, as long as the rupiah exchange rate does not experience strengthening and weakening, the entrepreneur will still be safe and comfortable in running his business.

“The entrepreneur is the most important rise and fall of the rupiah is not insane. The most important thing is, for example, from Rp14,100 and then down to Rp. 12,100, then there will be another upswing to Rp. 14,000. found at Menara BCA Jakarta, as written on Thursday, January 10, 2019.

The exchange rate of the rupiah against the US dollar (USD) moves fluctuatively in trading Thursday, January 10, 2019. This morning, the rupiah opened at the level of 14,048 per USD or weakened compared to yesterday’s trade closing at 14.125 per USD.

Reference:
cnbcindonesia.com
bisnis.com
liputan6.com

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