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Jakarta Post

Rupiah falls to 11,560 per dollar on Thursday afternoon

The rupiah, traded among banks in Jakarta on Thursday afternoon, depreciated by 53 basis points to 11,560 per dollar, down from the previous 11,507 per dollar

The Jakarta Post
Jakarta
Thu, July 24, 2014

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Rupiah falls to 11,560 per dollar on Thursday afternoon

T

he rupiah, traded among banks in Jakarta on Thursdayafternoon, depreciated by 53 basis points to 11,560 per dollar, down from theprevious 11,507 per dollar.

"The rupiah rate against the US dollar is declining as presidential election euphoria starts to dissipate. Externally, the US dollar is strengthening against the majority of global currencies," Monex Investindo Futures research head Ariston Tjendra said in Jakarta on Thursday, as quoted by Antara news agency.

He said the US dollar strengthened against the euro because of geopolitical tensions in Ukraine that are applying pressure against an economic recovery in Europe.

He also said the strengthening greenback was supported by improved US economic data.

Meanwhile, Bank Indonesia's mid-rate data showed that the domestic currency was traded at 11,531 per US dollar, down from 11,498 per dollar.(nfo)

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