Rupiah Hits 7-Week High at 17,760 as BI Governor Pick Lifts Confidence
Updated
Updated · TradingView · Aug 7
Rupiah Hits 7-Week High at 17,760 as BI Governor Pick Lifts Confidence
3 articles · Updated · TradingView · Aug 7
Summary
IDR 17,760 per dollar marked the rupiah’s strongest level in seven weeks, extending gains for a second straight session.
President Prabowo Subianto’s nomination of acting Bank Indonesia Governor Destry Damayanti as the sole successor to Perry Warjiyo boosted confidence in policy continuity; parliament’s approval is expected to take several weeks.
July foreign inflows into Indonesian bonds and equities also eased months of selling pressure, giving the currency additional support.
A softer U.S. dollar index after weaker-than-expected U.S. jobs data added to the move, while traders now await June retail sales figures due Tuesday after May’s weak reading.