Rupiah weakens 49 points to Rp18,198 per dollar on Thursday
Pressure came from a dollar index at 102.88, Fed rate-hike signals, and a jump in oil prices.
The rupiah opened down 49 points, or 0.27 percent, to Rp18,198 per U.S. dollar in Thursday trade, from the previous close of Rp18,149 per U.S. dollar. Bank Woori Saudara analyst Rully Nova said pressure came from the stronger U.S. dollar index and expectations that the Federal Reserve will raise interest rates again. The dollar index stood at 102.88, while the Fed signaled a 25 basis point hike next month and another 25 basis points early next year because U.S. inflation remains well above the 2 percent target. Negative sentiment also came from higher global oil prices, with WTI closing at 86.53 dollars per barrel and Brent at 92.76 dollars per barrel. Rully expects the rupiah to move in a range of Rp18,150-Rp18,250 per U.S. dollar.