JAKARTA: Rupiah and euro will gain stronger as supremacy of US dollar subsides. Dollar also sees pressure from the Chinese rate hike yesterday.The local currency, according to Treasury Division of PT Bank BNI Tbk, will tend to appreciate as Bank Indonesia raised it benchmark rate last Friday. Rupiah is poised to test IDR8.900. "In fact, the interesting part of Indonesian trade balance will absolutely entice the investors," said the state lender.Rupiah was closed higher at IDR8,925 yesterday from the opening level at IDR8,935. The government has prepared anticipating measures against threat of capital outflow to secure economic stability and growth that runs in rapid pace.Rupiah is predicted to move at support-resitant level of IDR8,890-IDR8,940 per US dollar. The lender suggests to buy at ID8,900 and sell at IDR8,925.Meanhile, euro is expected to move higher. The increasing appetitefor high-yield assets will benefit euro even indicating higher gains. With Middle East conflict subsides, the domination of US dollar as safe haven diminishes. (NOM)
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