KONTAN.CO.ID - JAKARTA. The rupiah and the Jakarta Composite Index (JCI) strengthened on Thursday on the back of the expected increase in the US Federal Reserve's short-term interest rates, which the Federal Open Market Committee (FOMC) raised by 25 basis points to a maximum 2.25 percent. Bloomberg reported that the rupiah was quoted at 14,897 per US dollar on the spot market at 11:19 a.m. on Thursday, or 0.09 percent stronger than the day before. Meanwhile, the Jakarta Interbank Spot Dollar Rate (JISDOR) recorded a 0.13 percent increase in the rupiah rate to 14,919 per US dollar. The JCI strengthened by 39.88 points before the midday break to 5,913.15, a 0.68 percent increase. Nine sectors supported the rebound in the JCI, with only the diversified industry sector showing a 0.71 percent downturn in share prices.
Rupiah, JCI strengthen on Fed rate increase
KONTAN.CO.ID - JAKARTA. The rupiah and the Jakarta Composite Index (JCI) strengthened on Thursday on the back of the expected increase in the US Federal Reserve's short-term interest rates, which the Federal Open Market Committee (FOMC) raised by 25 basis points to a maximum 2.25 percent. Bloomberg reported that the rupiah was quoted at 14,897 per US dollar on the spot market at 11:19 a.m. on Thursday, or 0.09 percent stronger than the day before. Meanwhile, the Jakarta Interbank Spot Dollar Rate (JISDOR) recorded a 0.13 percent increase in the rupiah rate to 14,919 per US dollar. The JCI strengthened by 39.88 points before the midday break to 5,913.15, a 0.68 percent increase. Nine sectors supported the rebound in the JCI, with only the diversified industry sector showing a 0.71 percent downturn in share prices.