Analysts projected the rupiah to strengthen today over external factors related to the US-China trade situation.
Muhammad Alfatih, a senior technical portfolio advisor at Samuel Sekuritas, predicted the rupiah to move between 15,050 and 15.150 per US dollar.
“The short-term factor is the optimism stemming from the US-China situation, with possibilities that the two countries will strike a deal,” he said on Friday, November 2.
Panin Sekuritas analyst William Hartanto shares a similar sentiment. He predicted the rupiah to gain and move within a range of Rp14,800 to Rp15,100 per US dollar.
Meanwhile, Samuel Sekuritas Indonesia’s economist Ahmad Mikail said the rupiah correction has not affected inflation, which, as per October, is still lower than BI’s estimation of 3.5%.
“Low inflation also shows that the rupiah depreciation over the last year has no significant impact on inflation hike,” he said.
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