The Jakarta Post
The rupiah traded among banks in Jakarta on Tuesday morning weakened by 19 points to 11,797 per US dollar from the previous 11,778 per dollar.
"The US dollar has strengthened after investors' trust in European market declined. This situation has created pressure on risky currencies including the rupiah," Monex Investindo Futures analyst Zulfirman Basir said in Jakarta on Tuesday as quoted by Antara news agency.
He said the weakening of the rupiah was also caused by the fact that Bank Indonesia would conduct a meeting to decide the country's monetary policy.
"On the other hand, investors are being careful given the nation's political situation. We are hoping that the tension in politics does not influence investors psychologically," he added.
He predicted the rupiah trading would be between 11,765 and 11,830 per dollar throughout the day. (nfo)