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Rupiah up by 10 points to Rp 11,358 in the morning
The Rupiah exchange rate strengthened by 10 points to Rp 11,358 per US dollar in the opening session up from the previous Rp 11,368
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The Rupiah exchange rate strengthened by 10 points to Rp 11,358 per US dollar in the opening session up from the previous Rp 11,368.
Trust Securities head of research Reza Priyambada said that the improvement in the rupiah rate was caused by positive market sentiments to the readiness of the government and Bank Indonesia (BI) to face the monetary tightening policy of the US' Federal Reserves (The Fed).
"The Fed plans to raise its interest rate after reducing its stimulus. This condition shook rupiah, but then the government and BI announced their readiness to face it," he said in Jakarta on Tuesday as quoted by state news agency Antara.
He said that the strengthening of rupiah was also related by market expectation on China's possible violations after its manufacturing index slipped down.
"Domestic currency money welcomes that possibility as we can also see the improvement in Yuan," he added.
Meanwhile, Monex Investindo Futures head of research Ariston Tjendra said that the dollar tended to weaken to the majority of world's currencies due to the slowdown of the US manufacturing data.
"The slowdown of the US manufacturing data has moved European countries' manufacturing data slowly," he said. (nfo)
