Although foreign investors recorded net selling (but only slightly), the index was supported by today’s appreciating rupiah exchange rate. The IHSG climbed 0.79 percent to 5,127.12 points on Monday (21/07).

It was interesting to follow the performance of the rupiah today as it did not follow the performance of other emerging Asian currencies that weakened due to the influence of the Ukrainian-Russian conflict (exacerbated by the Malaysia Airlines shooting). Market participants are still optimistic about the presidential election result, as well as the limited inflation forecast for July. Traditionally this month brings along inflationary pressures due to the holy fasting month of Ramadan and Idul Fitri celebrations.    

Bank Indonesia's benchmark rupiah rate (Jakarta Interbank Spot Dollar Rate, abbreviated JISDOR) appreciated 1.10 percent to IDR 11,577 per US dollar on Monday (21/07).

| Source: Bank Indonesia