Rupiah Climbs on Forex Reserves Increase

Jun 12, 2017Updated May 15, 20251 min read

The rupiah climbed 20 bps this morning at the Jakarta Interbank Spot Dollar Rate. The rupiah now trades for Rp13,278 per US dollar, from what analysts said to be the impact of Indonesia’s foreign exchange (forex) reserves’ increase.

Samuel Sekuritas economist Rangga Cipta said on Friday, June 9, that the forex reserve increase in May to US$124.95 billion helped the rupiah strengthened. But the gain is relatively limited as the US dollar is also on an uptrend over speculations that the Federal Open Meeting Committee will result in a Fed Fund Rate hike.

Meanwhile, money market observer from Bank Woori Saudara Indonesia, Rully Nova, said the forex increase is expected to help maintain the rupiah stability on the long run.

“With stable fluctuations, the domestic economic activities will be able to increase, and eventually provide investors’ with comfort and security when making investments,”

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Mei Ling Tan

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Mei Ling Tan is the Editor of Retail News Asia, where she leads the editorial team in delivering in-depth coverage of Asia’s dynamic retail landscape. With over a decade of experience in business journalism, Mei Ling is known for her sharp analysis, deep industry insights, and commitment to uncovering the stories behind Asia’s most innovative retail brands. Before joining Retail News Asia, Mei Ling held senior reporting roles at regional business publications, covering everything from consumer trends to digital transformation in retail. A graduate of the National University of Singapore with a degree in Communications and New Media, she combines journalistic integrity with a strong understanding of evolving market forces. Outside the newsroom, Mei Ling is a frequent speaker at industry panels and a mentor for young journalists.

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