Trade

The rupiah strengthened again

The rupiah strengthening to Rp 15,194 per United States dollar on Friday morning from the previous day’s Rp 15,253, according to the Jakarta interbank spot dollar rate (JISDOR) released by Bank Indonesia.

On the foreign exchange spot market, the rupiah stood at Rp 15,198 per US dollar on Friday morning compared to Rp 15,235 on Thursday evening.

On Thursday, Indonesia and Singapore announced a US$10 billion local currency-swap agreement between the two countries’ central banks to anticipate global monetary and financial market uncertainty as a result of the trade war between the US and China.

The Jakarta Composite Index (JCI) also strengthened by 55.58 basis points or 0.97 percent to 5,758 at the close of morning trade. As many as 214 shares strengthened, 148 weakened and 120 remained unchanged.

Nine of the 10 sectors supported the JCI increase, with the diversified industry sector, the infrastructure sector and the financial sector strengthening nearly 2 percent. The only sector to weaken was the agriculture sector, according to kontan.co.id.

The top gainers in morning trade included PT Vale Indonesia (4.76 percent) to Rp 3,520 per share, Bank Negara Indonesia (3.35 percent) to Rp 6,950 per share and PT Telekomunikasi Indonesia (3.08 percent) to Rp 3,680 per share.

The top losers were PT Media Nusantara Citra (2.03 percent) to Rp 725 per share, PT Lippo Karawaci (1.97 percent) to Rp 298 per share and PT HM Sampoerna (1.55 percent) to Rp 3,810 per share. (bbn)

The Jakarta Post

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