Rupiah Exchange Rate Volatile; Market Waiting for FOMC Meeting
On Tuesday (28/01), the Indonesia rupiah exchange rate shows a volatile performance. Around 15:30 local Jakarta time, Indonesia's currency appreciated 0.08 percent against the US dollar. Market participants are waiting for the outcome of the Federal Reserve's FOMC meeting held on 27-28 January 2014. Most analysts expect the Federal Reserve to quicken the winding down (tapering) of its quantitative easing program. This program caused a large capital inflow in emerging economies, including Indonesia, in recent years.
The central bank's Jakarta Interbank Spot Dollar Rate or JISDOR) depreciated 0.57 percent to IDR 12,267 per US dollar on Tuesday (28/01).
Ahead of the outcome of the FOMC meeting, emerging currencies are showing a depreciating trend.
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