Update COVID-19 in Indonesia: 365,240 confirmed infections, 12,617 deaths (19 October 2020)
19 October 2020 (closed)
USD/IDR (14,738) +41.00 +0.28%
EUR/IDR (17,395) -10.41 -0.06%
Jakarta Composite Index (5,126.33) +22.92 +0.45%
The Indonesian rupiah exchange rate ended the week with a 0.32 percent gain to IDR 11,565 per US dollar on Friday (25/04) based on the Bloomberg Dollar Index. Despite still high local demand for US dollars ahead of the month-end (for reasons of profit repatriation, imports and debt repayments), the rupiah managed to appreciate as (foreign and domestic) investments in Indonesia were reported to have reached a new record at IDR 106.6 trillion (USD $9.4 billion) in the first quarter of 2014.
Other internal factors that caused positive market sentiments were investors' expectations for low inflation (or possibly deflation) in April 2014 and a trade surplus in March 2014. However, the country's current account deficit has probably widened in the first quarter of 2014 to over 2 percent of gross domestic product (GDP).
Bank Indonesia's benchmark rupiah rate (Jakarta Interbank Spot Dollar Rate, abbreviated JISDOR) appreciated 0.06 percent to IDR 11,601 per US dollar on Friday (25/04).
Indonesia's benchmark stock index (Jakarta Composite Index or IHSG) also strengthened. The index climbed 0.13 percent to 4,897.64 points. Together with Japan, the index of Indonesia was the only major Asian index that gained on Friday (25/04). Most Asian indices are still troubled by concerns about geopolitical tensions in Ukraine.