Selasa 27 Aug 2013 05:20 WIB

Bank of America expects stronger USD to continue against IDR

Rep: Friska Yolandha/Mutia Ramadhani/ Red: Yeyen Rostiyani
A stack of rupiah banknotes are seen on the desk at a money changer in Jakarta. (illustration)
Foto: AP/Tatan Syuflana
A stack of rupiah banknotes are seen on the desk at a money changer in Jakarta. (illustration)

REPUBLIKA.CO.ID, JAKARTA - Bank investment from United States, Goldman Sachs revised its target exchange rate of currencies in developing countries against USD, including IDR. Goldman expected strengthening of USD against local currency exchange rates in developing countries continued to increase.

Goldman revised its targets in three, six and 12 months of IDR against USD to 11,800 IDR per USD, 10,500 IDR per USD and 10,500 per USD. It means IDR weakens up to 8.7 percent from earlier position at 10,848 IDR per USD. IDR continued to weaken as many investor fled.

"We see that the weakening IDR will last if inflation increases in next few months," Goldman said in a written statement recently.

Inflation in Indonesia with the largest economy in Southeast Asia has reached 8.6 percent in July 2013. Bank Indonesia (BI) has responded to the inflation by increasing its benchmark interest rate of 75 basis points to 6.5 percent. It made Indonesia was the first in Asia to rise its benchmark interest rate up to that figure.

Governor of BI Agus Martowardojo estimated that year on year inflation this year would reach eight to nine percent.  It was based on price surveys conducted in second week of August 2013. The inflation is mainly contributed by the increasing price of four commodities, namely chili, shallot, beef and chicken. 

BACA JUGA: Update Berita-Berita Politik Perspektif Republika.co.id, Klik di Sini
Advertisement
Berita Lainnya
Advertisement
Terpopuler
1
Advertisement
Advertisement