Chief researcher of Korindo Securities Indonesia Reza Priyambada said the speculation about another series of economic policy package to be announced by President Jokjo Widodo (Jokowi) strengthened optimism that the country would post a higher economic growth in the second half of the year.
President Jokowi has expressed optimism that the country would chalk up a stronger growth in the second half after a slowdown in the first six months of the year.
The third series of economic policy package since last month is expected to improve the country's macro economic condition shoring up the national currency against the US dollar, Reza said.
"Expectation that the country economic fundamentals would improve, would lift the currency," he said.
The policy announced earlier by the government cutting tax on interest rate of exporters' deposits put in domestic banks strengthen the dollar liquidity in the country.
Meanwhile, negative sentiment over the Fed planning to raise its fund rate began recede prompting investors to turn to risky currencies which offer higher gain, Reza said.
Many investors believed that The Fed would likely be in a position to raise its fund rate next year.
In addition, a meeting between Japan, South Kore and China to cope with economic slowdown in the region contributed to positive sentiment to the market. (WDY)
: I Gusti Bagus Widyantara
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