Lacking Positive Data, Rupiah Continues to Fluctuate

Rupiah is predicted to fluctuate at levels between 11,400 to 11,500 per US Dollar on today's trading session. "The absence of significant economy data release caused market players to stop accumulating assets in Rupiah," said Juniman, Head of Economy at Bank International Indonesia. 

Meanwhile, military tension in Ukraine continues to increase demands of US Dollar as the most secure currency.  Juniman said that Rupiah had only managed to make small improvements. However, the plan to hold an auction for sharia bonds (sukuk) amounting to Rp 1.5 trillion, may boost Rupiah's exchange rate.

On the other hand, economic data from the United States continue to show improvements, such as the number of jobless claim that slightly increases to 304,000 last week, and the 0.8 percent increase of CB leading index for April.

In this morning trading session, the majority of regional currencies continue to experience pressure from US Dollar.  Rupiah weakens by 31.2 points (0.27 percent) to a level of 11,477.5 while  Yen and Won continue to make corrections as much as 0.03 percent to a level of 102.65 per US Dollar and 0.17 percent to a level of 1,040.8 per US Dollar, repsectively.

Source : Tempo