Forex
Rupiah Strengthens, Predicted to Remain Volatile Next Week
The Indonesian rupiah strengthened by 89 points in the spot market on Friday, July 31, closing at Rp18,022 per US dollar compared to the previous trading day.
Currency and commodity analyst Ibrahim Assuaibi predicts the rupiah will remain volatile next week, with potential movement between Rp18,020 and Rp18,070 per US dollar.
The rupiah's appreciation at the end of last week was supported by a weaker US dollar index, partly influenced by falling crude oil prices amid the ongoing Middle East conflict and signs of improving shipping activity through the Strait of Hormuz.