Rupiah is Predicted to Move Flat, But Tends to Strengthen

Jakarta, The Indonesia Post – The rupiah is predicted to move flat today, but the exchange rate (exchange rate) of the rupiah transacted between banks in Jakarta on Tuesday morning is predicted to move sideways to strengthen.

At 9.37 WIB, the rupiah had weakened 9 points or 0.07 percent to IDR 14,032 per US dollar from the previous closing position of IDR 14,023 per US dollar.

“I think the rupiah will remain sideways with a slight tendency to strengthen, due to hopes for economic improvement and an acceleration of vaccinations,” said Bank Mandiri analyst Rully Arya Wisnubroto in Jakarta, Tuesday.

The government is targeting to administer COVID-19 vaccination against 181,554,465 Indonesians or around 70 percent of the total population. This was done to achieve herd immunity against diseases caused by the SARS-CoV-2 virus with the first priority of vaccination for health workers most at risk of infection.

After the first phase of the vaccination program for health workers, then the second stage of vaccination will be given to public officials such as the TNI-Polri, and workers who work in public places who meet many people and groups of elderly people.

The government is targeting to vaccinate public officers and the elderly in the second phase which will start in February 2021 to April 2021.

“This week, the sentiment will be mixed between the acceleration of vaccination and the increasing number of COVID-19 infections,” said Rully.

New cases of positive confirmation of COVID-19 in Indonesia, based on data from the Ministry of Health, were reported by the Task Force for Handling COVID-19, Monday (1/2) until 12.00 WIB, totaling 10,994 cases with a total of 1,089,308 cases.

Meanwhile, 10,461 patients recovered with a total of 883,682 COVID-19 patients.

Rully estimates that the rupiah today will move in the range of IDR 14,015 per US dollar to IDR 14,065 per US dollar.

On Friday (29/1), the rupiah closed up 48 points or 0.34 percent to Rp14,030 per US dollar from the previous day’s position of Rp14,078 per US dollar. (icn/bbs)