JAKARTA: Rupiah is expected to pick up as supremacy of US dollar subsides following the unchanged policy at the meeting of Federal Open Market Committee (FOMC).BNI Treasury Division sees risk appetite to rise, thus supporting the domestic stocks and pushing up the rupiah exchange rate. Rupiah was closed up to IDR9,033 from the opening at IDR9,040 yesterday.Still, as the state lender noted in its morning review, the investors shall anticipate any movement in the local currency ahead of the release of inflation data although Bank Indonesia is ready to secure market confidence by maintaining rupiah stability. The lender suggests to buy the USD/IDR at 9,025 and sell at 9,040 as it predicts the currency pair to move between IDR9,015-IDR9,055. For USD/JPY, it predicts the pair to move range bound at the level of 80.50-84.00 and suggests to buy it at 81.50 and sell it at 82.50. (NOM)
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