Rupiah responds negatively to US economic growth data release

 28 September 2019   

Rupiah responds negatively to US economic growth data release

 The US economic development remains solid and shows no signs of strong potential recession.
Jakarta (ANTARA) - The rupiah suffered another correction against the US dollar in the Jakarta interbank market on Friday morning, triggered by the release of the US economic growth data.
 
"The US economic development remains solid and shows no signs of strong potential recession," Samuel Aset Manajemen economist Lana Soelistianingsih remarked in Jakarta on Friday.
 
The third announcement indicates that the US economic growth had clocked two percent year-on-year (yoy) in the second quarter of 2019, unchanged from the second announcement, though slowing down from 3.1 percent yoy in the first quarter of 2019 owing to ebbing personal consumption expenditure and exports.
 
Lana has forecast the rupiah to trade in the range of Rp14,150 to Rp14,180 per US dollar.
 
"This morning, the strong Asian currencies, including the Hong Kong dollar and Singapore dollar, opened lower against the US dollar that may serve as a sentiment for the weakening rupiah. However, the rupiah will possibly strengthen technically since it had weakened for three consecutive days," she stated.
 
The rupiah slipped 25 points, or 0.18 percent, to Rp14,190 per US dollar at 10:08 a.m. local time on Friday in comparison with Rp14,165 per US dollar earlier.
 
According to the Bank Indonesia mid-rate on Friday, the rupiah tumbled to Rp14,197 per US dollar from Rp14,162 per US dollar earlier.

 

MEMBERS OF

SHIPPING LINES

COURRIER PARTNERS

Turn Up is a boutique and wholly Australian owned company that provides solutions and legal services that are trusted, relevant, consistent and professional Best and Recommended Visa Consultant in Bali Indonesia.

The Director runs the day to day management of Turn Up which requires them to hold a very high and solid understanding coupled with many years of experience to run the business and operational objectives needed to ensure the greatest potential for success for all of Bali expat’s legal needs Best and Recommended Visa Consultant in Bali Indonesia.

With this experience and understanding in mind, they have built a strong team with broad and very focused skill sets to accomplish the best possible outcomes for expatriates, living, working, investing, building a business or even marrying in Bali Best and Recommended Visa Consultant in Bali Indonesia.

We have created a structure that provides solid communication through every step of the process. We provide the time together with a strong plan and a focused team that works towards goals and deadlines to maximize your satisfaction and success.

We give you the Best Trusted Solution and Service by providing operational excellence, service leadership and customer confidentiality.

Turn Up demonstrates our alliance with all of our existing clients by our consistently progressive commitment to customer service. This customer support infrastructure enables us to offer our clients complete satisfaction and excellence of service, which exceeds client expectation while maintaining a cost pro-active attitude of care within our own organization Best and Recommended Visa Consultant in Bali Indonesia.

At Turn Up we ensure that our clients are kept up to date and informed on the progress and of any regulation changes at all times. We respond to each individual’s needs from application to completion.