Rupiah Depreciation Still Colors SUN Market. In early trading yesterday, the rupiah had depreciated to the level of IDR 14,738/USD. The depreciation of the rupiah, ahead of the BI RDG next week, is projected to keep the BI 7DRRR at the level of 3.50% in May. The rupiah depreciation cannot be separated from the Hawkish Fed’s stance in raising its benchmark interest rate. Currently, investors are looking forward to how BI will respond to the FFR hike.

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