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Rupiah weakens to 11,603 per dollar Friday morning
Rupiah traded among banks in Jakarta on Friday morning depreciated by 35 basis points to 11,603 per US dollar, down from the previous 11,568 per dollar
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upiah traded among banks in Jakarta on Friday morning depreciated by 35 basis points to 11,603 per US dollar, down from the previous 11,568 per dollar.
Monex Investindo Futures research head Ariston Tjendra said the US dollar strengthened against the majority of global currencies Friday morning and hence put pressure on the rupiah.
Recently released data on US unemployment, which was fewer than 300,000 people in June, helped the US dollar appreciate.
"It is the lowest level in the past eight years," he said in Jakarta on Friday as quoted by Antara news agency.
This condition was likely to encourage the US Federal Reserve to increase its benchmark interest rate, he added.
In addition, the global price of crude oil, which is above $100 per barrel, continues to create negative sentiments toward Indonesia's trade balance and current account.
Market players remain in a wait-and-see stance until there is a ruling from the Constitutional Court regarding the General Elections Commission (KPU) presidential election results.
"However, the rupiah is relatively stable in the market," he continued.(nfo)
