REPUBLIKA.CO.ID, JAKARTA -- The rupiah value rose in the closing inter-bank transaction on Thursday trading at the level of 13,221 per US dollar from 13,252 earlier.
"Commodity-based currencies such as rupiah tend to rise to follow the rising oil price in the world market," chief researcher of Monex Investindo Futures Ariston Tjendra here .
The price of WTT crude oil rose 0.19 percent to US 46.86 per barrels and Brent Crude increased 0.14 percent to US 49.12 per barrel .
On the other hand, the condition ahead of the release of data about the US Gross Domestic Product (GDP) in the second quarter of this year and the statement by President of the US Central Bank Janet Yellen in the annual symposium in Jackson Hole, Wyoming, also would have impact prompting market players to sell part of their dollar assets, Ariston said.
"Investors are awaiting to see whether the Fed would again show 'hawkish' economy," he said. PT Platon Niaga Berjangka's analyst Lukman Leong said that the presence of Bank Indonesia in the market also has its effect propping up rupiah.
"Amid the absence of new sentiments both external and internal on tax amnesty policy Bank Indonesia sought to keep rupiah in line with the economic fundamentals," Lukman said.
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