The rupiah is appreciating, thus bolstering price stability. On average, the rupiah charged 1.16% higher against the US dollar in December 2018 despite experiencing 0.54% (ptp) depreciation in the same period on a point-to-point basis. The strong rupiah persisted into January 2019 as an influx of foreign capital flowed into the domestic markets in line with sound national macroeconomic fundamentals and slightly eased global financial market uncertainty. For the year, therefore, the Rupiah depreciated 6.05%, or 5.65% (ptp), in 2018. Nonetheless, the point to point Rupiah depreciation was less pronounced than the Indian rupee, South African rand, Brazilian real, and Turkish lira.
