Update COVID-19 in Indonesia: 228,993 confirmed infections, 9,100 deaths (16 September 2020)
18 September 2020 (closed)
USD/IDR (14,768) -110.00 -0.74%
EUR/IDR (17,496) -11.29 -0.06%
Jakarta Composite Index (5,059.22) +20.82 +0.41%
Asian stocks and currencies strengthened on Wednesday (29/01) after the central banks of Turkey and India tightened their monetary policies in order to attract capital inflows and restore investors' confidence. The central bank of Turkey raised its overnight lending rate aggresively from 7.75 percent to 12 percent on Tuesday (28/01); a measure which managed to calm down Asian markets. According to the Bloomberg Dollar Index, the Indonesia rupiah exchange rate appreciated 0.20 percent to IDR 12,166 per US dollar on Wednesday.
The central bank's Jakarta Interbank Spot Dollar Rate (JISDOR) appreciated significantly by 0.92 percent to IDR 12,154 per US dollar today (29/01).
Indonesian Rupiah versus US Dollar (JISDOR)| Source: Bank Indonesia
Market participants are also still eagerly awaiting the outcome of the FOMC meeting held on 28-29 January. It is expected that the Federal Reserve will cut its quantitative easing program by another USD $10 billion per month.