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Rupiah weakens to 11,696 per dollar at Wednesday's close
The rupiah fell on Wednesday afternoon to 11,696 per US dollar, 17 basis points down from the previous day's 11,679 per dollar
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The rupiah fell on Wednesday afternoon to 11,696 per US dollar, 17 basis points down from the previous day's 11,679 per dollar.
Monex Investindo Futures analyst Zulfirman Basir said the rupiah had continued to depreciate since the US announced an improvement in its housing data.
"The US dollar has strengthened against a number of currencies since the release of its housing and retail data, showing that the US economy is improving," Zulfirman said in Jakarta on Wednesday as quoted by Antara news agency.
He added, however, that investors in emerging markets were being cagey about making decisions as they were waiting for the Federal Open Market Committee (FOMC) meeting this week.
"The result of the FOMC meeting will give market players some hints as to the US' monetary outlook, especially the Fed [US Federal Reserve's] rate," he said.
Investors have also been cautious as they await the much-anticipated ruling by the Constitutional Court on Thursday regarding the presidential election dispute.
Meanwhile, Bank Indonesia's mid rate data revealed the domestic currency traded at Rp 11,707 on Wednesday, down from its previous level of Rp 11,682 per dollar. (nfo)
