Jakarta, CNBC Indonesia – For a week, the rupee exchange rate strengthened against the US dollar and became a positive catalyst for the rupee’s strengthening. According to CNBC Indonesia, the rupee strengthened by 0.52% in one week and closed at Rp 15,548 / US $ on the spot market.
The US dollar is also said to have weakened by nearly 1%. However, the rupee’s strengthening is still limited, as it has moved above Rp in the past week. 15,500 / US $.
The economic downturn in 2023 is still the main sentiment to move the market. The global economy has the opportunity to slow or fall into a recession, due to non-accommodative or tightened central bank policies.
Noticed this week 2 central banks in the West have tightened monetary policy. The Bank of Canada (BoC) raised its benchmark interest rate by 50 basis points (bps) on Wednesday (10/26/2022) and the European Union Central Bank (ECB) did the same by 75 basis points.
The release of economic data that surpassed the projections of China and the United States as the two countries with the largest economic powers in the world have not yet been able to become a positive catalyst for the performance of risky financial assets such as equities.
At the beginning of the week, the Chinese economy in the third quarter of 2022 would have grown by 3.9% Year after year (aaaaaaaaaaaaaaaaaaaaaaaaaa This was up from the second quarter’s 0.4% expansion and was higher than expected at 3.4% yoy in the third quarter.
The economic performance of the United States (USA) was also better than expected in the third quarter of 2022. Gross domestic product (GDP) grew 2.6% year on year, better than the second quarter which contracted by 0. 6% and growth of 2.4% is expected.
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(npb / npb)
