Equityworld Futures : Venturing into the foreign exchange market trading on Tuesday (6/12) back print strengthening rupiah which exhibited significantly from early trading last week, managed to penetrate the range of 13300, up 125 points from last weekend. Rupiah confident rally take a foothold on the momentum weakening US dollar against many currencies.
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Very strong rupiah does not make foreign capital inflows more than the current discharge until printed Rp93 billion net sell more. The foreign investor selling pressure failed to suppress stock index was up 0.2%.
Rupiah exchange rate movements in the spot market this morning with a positive move to strengthen the position of 0.42% from the previous trading and is now moving in the range Rp13384 / US $ after opening strong at the level Rp13405 / US $. Thus for Jisdor exchange rate set by BI into a stronger position in the 13405 of 13516 previous trading.
And to the movement of the rupiah exchange rate in the spot market today potentially strong at the end of trading by fundamental weakness of the US dollar, so Analyst Equityworld Futures Research Center estimates the rupiah to move in the support level at 13530 and resistance at 13310.