On Wednesday morning (30/04), the Indonesian rupiah exchange rate had appreciated 0.11 percent to IDR 11,536 per US dollar based on the Bloomberg Dollar Index at 9:15 local Jakarta time. On Tuesday (29/04), Bank Indonesia's benchmark rupiah rate (Jakarta Interbank Spot Dollar Rate, abbreviated JISDOR) depreciated 0.18 percent to IDR 11,589 against the US dollar. Today's JISDOR will be released by the central bank of Indonesia around noon local Jakarta time.
Indonesian Rupiah vs US Dollar (JISDOR):| Source: Bank Indonesia
Which factors can influence the performance of the Indonesian rupiah?
Trading has become relatively quiet as market participants are awaiting the results of the Federal Reserve's FOMC meeting that is held on Tuesday-Wednesday (29-30 April 2014). Investors expect that the US monthly bond-buying program will be cut by another chunk of USD $10 billion.
April's US non-farm payroll data will be released on Friday (02/05). These data will inform us about the current condition of US employment. Forecasts seem to point to an improvement in US unemployment.
Ukraine crisis; although tensions have eased slightly after Russia promised not to invade the former Soviet state, these geopolitical tensions still form a concern.
On Friday (02/05), Statistics Indonesia will release April inflation and March trade data. Several projections suggest that April will show deflation or low inflation, while the trade balance in March is expected to post a surplus of about USD $800 million.