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Rupiah appreciates to 11,649 per dollar Friday morning
The rupiah traded among banks in Jakarta on Friday morning appreciated by 43 basis points to Rp 11,649 per US dollar
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The rupiah traded among banks in Jakarta on Friday morning appreciated by 43 basis points to Rp 11,649 per US dollar.
"The rupiah strengthened as the market responded positively to the Constitutional Court's verdict last night," Trust Securities research head Reza Priyambada said in Jakarta on Friday as quoted by Antara news agency.
He, however, said that the appreciation was still limited due to external factors, such as the US benchmark interest-rate hike plan.
In addition to that, recently released US economic data showing healthy growth has encouraged investors to conduct transactions in dollars.
"This sentiment has limited the improvements of currencies in emerging markets, including the rupiah," he added.
Monex Investindo Futures research head Ariston Tjendra separately said that the normal conditions seen across the archipelago after the verdict was announced was one of factors that strengthened the domestic currency in the morning.
He also said the fact that Indonesia's fundamental economy was relatively stable had kept positive sentiment alive.
"Indonesia's economy is on the right track and the market is optimistic 5 percent growth will be achieved at the end of 2014," he said. (nfo)
