Jokowi-Prabowo Reconciliation Spurs Rupiah Strengthening
Lite
Sorry, an error has occurred
For now, this data cannot be displayed. We are trying to fix it.
Back to Home- A Small Font
- A Medium Font
- A Bigger Font
The Indonesian Rupiah opened stronger against the US dollar at Rp 13,972.5 in spot trading on Monday (July 15th). The Rupiah has consistently traded in positive territory since Wednesday (July 10th) until the end of last week's trading, closing at Rp 14,007/US$.
Permata Bank economist Josua Pardede stated that several domestic factors contributed to the positive sentiment towards the Rupiah. Firstly, President Jokowi's speech outlining plans to cut corporate income tax (PPh) to 20% from the previous 25%, along with a super-deductible tax incentive. Furthermore, Jokowi also plans to ease investment in the industrial sector.
Secondly, the reconciliation between Jokowi and Prabowo over the weekend also boosted the Rupiah's strength at the beginning of this week's trading. The Rupiah is likely to continue its strengthening as the June 2019 trade balance is predicted to be in surplus.
(Read Databoks: [Strengthening Rupiah Drives IHSG into Positive Territory](https://databoks.katadata.co.id/datapublish/2019/07/11/penguatan-rupiah-pacu-laju-ihsg-ke-zona-hijau))
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
Related Data
Latest Data Stories
Trending Topics
Popular Data