The rupiah slightly depreciated against the US dollar on Monday

The rupiah depreciated 0.1 percent to Rp 13,425 per dollar while the Jakarta Composite Index (JCI) rose by 24.18 points, or 0.53 percent, to 4,613.53.

The exchange data showed 107 stocks were up in the morning session, 19 stocks down and 57 stocks unchanged.

In regional markets, Japan’s Nikkei 225 Index added 1.64 percent, Hong Kong’s Hang Seng Index grew 0.94 percent and China’s Shanghai Composite Index increased 0.35 percent.

Monex Investindo Futures head of research Ariston Tjendra said the US dollar strengthened after Fed vice chairman Stanley Fischer stated that the US central bank had yet to exclude the Fed fund-rate increase from this year’s policy options.

"The policy makers in the Fed office are still open to increasing the Fed fund rate this year, particularly if the global economy is still lagging due to the US’ slowing economy," Ariston said in Jakarta on Monday as quoted by Antara news agency.

He further said the markets were waiting for statements from other Fed executives such as Dennis Lockhart and Charles Evans, and that if they gave similar statements about increasing the Fed fund rate this year, the greenback would find its buying momentum.

Samuel Sekuritas economist Rangga Cipta said internal factors were good enough on Monday morning to prevent the rupiah from fluctuating against the US dollar. Local investors were anticipating a surplus in Indonesia’s September trade balance.

"In the global market, pressure on the US dollar is still there and the rupiah is tending to strengthen against the US dollar, mainly as a result of positive internal sentiment," he said.

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