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Rupiah falls to 11,712 per dollar Thursday morning
The rupiah traded among banks in Jakarta on Thursday morning depreciated by eight basis points to Rp 11,712 per US dollar
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The rupiah traded among banks in Jakarta on Thursday morning depreciated by eight basis points to Rp 11,712 per US dollar.
"It is possible the rupiah will continue to weaken throughout the day as market players await the Constitutional Court ruling regarding the 2014 presidential election dispute," Trust Securities research head Reza Priyambada said in Jakarta on Thursday as quoted by Antara news agency.
He said the rupiah would drop if the verdict was not in the favor of the market players. But, the domestic currency would return to a stable level if the verdict was in line with the market's expectation.
"The rupiah doesn't have the potential to strengthen when the US dollar is improving and conflicts in Ukraine and Russia are easing," he said.
Separately, Monex Investindo Futures analyst Zulfirman Basir said that a number of currencies across Asia weakened due to positive sentiment toward the US dollar following the release of US housing and retail industry data that showed healthy growth.
"On the other hand, we also did not see positive sentiment from the domestic market that could support the rupiah," Zulfirman said. (nfo)
