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Rupiah up to 11,423 in Thursday's interbank trading
The rupiah strengthened during Thursday's interbank trading to 11,243 per US dollar, 12 points stronger than its previously 11,435
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The rupiah strengthened during Thursday's interbank trading to 11,243 per US dollar, 12 points stronger than its previously 11,435.
"The dollar seems to have lost its momentum after the US Federal Reserve indicated that it wanted to continue maintaining its stimulus easing in the long run," Monex Investindo Futures' research head, Ariston Tjendra, said in Jakarta on Thursday as quoted by Antara news agency.
He said the condition had pushed the dollar to weaken against the majority of currencies worldwide, including the rupiah.
On the other hand, he said, the lack of Indonesia's economic data had limited the rupiah's progress, added to the fact that finance market players were still studying the development of strategies fielded by political parties ahead of the July 9 presidential election.
"Whatever the result is, the new government will be expected to provide new policies and maintain the country's economic growth," he added.
Meanwhile, Bank Indonesia's (BI) rupiah mid-rate weakened to 11,418 per dollar in the closing session, from the previous 11,438. (nfo)
