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Rupiah weakens to 11,629 per dollar on Friday morning

The rupiah inter bank trade rate depreciated by 56 points to 11,629 per US dollar, down from the previous 11,573 per dollar in Jakarta on Friday morning

The Jakarta Post
Jakarta
Fri, July 11, 2014

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Rupiah weakens to 11,629 per dollar on Friday morning

T

he rupiah inter bank trade rate depreciated by 56 points to 11,629 per US dollar, down from the previous 11,573 per dollar in Jakarta on Friday morning.

"The rupiah weakens this morning as sentiment linked to the presidential election has subsided," Trust Securities research head Reza Priyambada said in Jakarta on Friday as quoted by Antara news agency.

He said market players saw that the election had run smoothly and was under control, thus they looked at Indonesia's fundamental economic data.

He said the domestic currency had a good chance to continue to strengthen in the future because the central bank had decided to maintain the 7.5 percent benchmark interest rate.

In addition, Monex Investindo Futures research head Ariston Tjendra said the new government was expected to improve the country's trade balance, reducing the deficit.

"A positive trade balance will help attract foreign investors to Indonesia and it will surely strengthen the rupiah," Ariston said. (nfo)

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