medcom.id, Jakarta: Mandiri Sekuritas chief economist Leo Putra Rinaldy believes the rupiah could reach 13,400 per United States (US) dollar by the end of the year. Currenly, the rupiah is around 13,500 per US dollar.
Leo mentioned that any future rate increases from the US Federal Reserves and The withdrawal of the United Kingdom (UK) from the European Union (EU) will not have significant effect to the rupiah.
"Don't worry about Brexit," he told Metrotvnews.com in Jakarta, on Sunday (7/10/2016).
He added that Bank Indonesia (BI) still has plenty of room to loosen monetary policy. Until now, the central bank can maintain the inflation at below four percent. The low current account deficit will also boost the rupiah.
"High demands in June-August will weaken the rupiah to 13,500-13,700 per US dollar. But after that, it will rebound," he concluded.
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