Jakarta, CNBC Indonesia – Indonesian financial markets are closed due to the holiday commemorating the death of Jesus Christ or Good Friday today, Friday (15/4/2022). If traded, the rupiah could potentially weaken.
Yesterday, the rupiah was successful against the United States (US) dollar by closing the trade at Rp. 14,343/US$, strengthening 0.13%.
The rupiah spot market in the country is closed today. However, overseas Non-Deliverable Forwards (NDF) markets are still open. By looking at the NDF market, it can be seen how the fate of the rupiah today if the spot market is traded.
The exchange rate of the rupiah against the dollar (US) may weaken in the spot market trading today. The signs are seen in the Non-Deliverable Market (NDF) market.
The following is the exchange rate for the rupiah on the NDF market after the closing of the spot market trading yesterday compared to today, Friday (15/4/2022), citing Refinitiv data:
|
Period |
Thursday (14/4) at 14:58 WIB |
Friday (15/4) at 09.23 WIB |
|
1 week |
Rp14.249,7 |
Rp14.357,5 |
|
1 Month |
Rp14.354,0 |
Rp14.374,1 |
|
2 Months |
Rp14.367,0 |
Rp14.384,1 |
|
3 Months |
Rp14.380,0 |
Rp14.402,4 |
|
6 months |
Rp14.456,0 |
Rp14.481,5 |
|
9 Months |
Rp14.551,0 |
Rp14.573,9 |
|
1 year |
Rp14.675,5 |
Rp14.685.6 |
|
2 years |
Rp14.971,0 |
Rp14.970,0 |
Source: Refinitive
NDF is an instrument that trades currencies within a certain period of time at a certain exchange rate. Previously, the NDF market did not exist in Indonesia, only available in international financial centers such as Singapore, Hong Kong, New York, or London.
The NDF market often affects the psychology of price formation in the spot market. Therefore, the exchange rate in the NDF is not infrequently followed by the spot market. Whereas previously the NDF was purely played by foreign investors, who may not have studied the fundamental conditions of the Indonesian economy.
CNBC INDONESIA RESEARCH TEAM
(adf/adf)
–
