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Jakarta Post
The Jakarta Post
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Rupiah slips to 11,879 in morning trade

  • The Jakarta Post

    The Jakarta Post

Jakarta | Wed, June 11, 2014 | 12:20 pm

The rupiah traded among banks in Jakarta on Wednesday morning slipped by 76 points to 11,879 per US dollar from the previous 11,803 per dollar.

"The US dollar has continued its domination of global currencies following market expectations that the US Fed is due to increase its benchmark interest rate," Monex Investindo Futures research head Ariston Tjendra said in Jakarta on Wednesday as quoted by Antara news agency.

He said that the World Bank had recommended that developing countries enhance their economies before the Fed increased its interest rates.

"Domestic demand in the US is rising with increased employment, and is ready to expand into the global market. Developing countries should be able to expand their economies now," he said, adding that previously the Fed had planned to raise its interest rate in mid 2015.

In addition, he said that the country's trade deficit should be fixed in order to help strengthen the rupiah in the future.

He also said that a conducive political situation was needed to improve the domestic currency so that Indonesia would not see outflows of foreign funds. (nfo)