Rupiah May Extend Gain

Mar 8, 2017Updated May 15, 20251 min read

Reza Priyambada, a senior analyst of PT Binaartha Sekuritas, predicts that the rupiah will extend its gain. The rupiah is expected to move to around a support level of Rp13,385 and resistance level of Rp13,327.

“Recent strengthening of the rupiah may open the opportunity for a rebound in the rupiah to extend its gain,” Reza said in a written statement on Tuesday, March 7, 2017.

Rupiah moved in the positive zone yesterday. It strengthened by 33 points or 2.5 percent to Rp13,350 per US dollar. Raza said that stronger rupiah was due to weaker US dollar as Asian currencies got stronger.

Rupiah has also strengthened as the Indian Ocean Rim Association (IORA) Summit takes place. The summit is expected to stimulate increase in foreign investment in Indonesia which may trigger economic growth and bolster foreign exchange reserves.

Rupiah remained strong despite negative sentiment over China who has cut its growth target for 2017, from 6.5-7.0 percent to 6.5 percent.

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Mei Ling Tan

Contributor · RetailNews.asia

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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