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Rupiah falls to 11,600 per dollar on Friday afternoon
The rupiah weakened on Friday afternoon by 27 points to 11,600 per US dollar, down from its previous level of 11,573 per dollar
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he rupiah weakened on Friday afternoon by 27 points to 11,600 per US dollar, down from its previous level of 11,573 per dollar.
"The US dollar is strengthening due to rising risks following the worsening situation in Gaza," Monex Investindo Futures analyst Zulfirman Basir said in Jakarta on Friday as quoted by Antara news agency.
On the other hand, he said, investors were worried about one of the largest banks in Europe that has been reported as being on the verge of bankruptcy.
This situation has pushed market players to retain the safe-haven currency, the US dollar.
"This external sentiment is putting a deal of pressure on rupiah at the end of the week," he said.
In the domestic market, he said investors remained alert amid the uncertain political landscape following the release of differing quick-count results.
"The market is waiting for the official result of the presidential election by the General Elections Commission [KPU] on July 22," Zulfirman added.
Meanwhile, Bank Indonesia's (BI) mid-rate data showed the rupiah traded at 11,627 per US dollar, down from the previous 11,540 per dollar. (nfo)
