The Indonesian rupiah made a stable performance against the US dollar in February 2019. The benchmark JISDOR rate of Bank Indonesia ended the second month of the year at the position of IDR 14,062 per US dollar, appreciating modestly from the level of IDR 14,072 per US dollar at the last trading day of January 2019.
This 0.07 percent appreciation against the greenback is much less impressive than the 2.82 percent appreciation the rupiah experienced versus the US dollar in the first month of 2019. Most of the month, the rupiah was hovering around the IDR 14,000 per US dollar level; a level that is often labeled an important ‘psychological level’.
There is a range of factors – both external and domestic ones - behind this performance of the rupiah; some factors support the value of the rupiah, while others neutralize that support.
Indonesian Rupiah versus US Dollar (JISDOR):| Source: Bank Indonesia
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