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Rupiah falls to 11,691 per dollar Wednesday morning

The rupiah traded among banks in Jakarta on Wednesday morning depreciated slightly by 10 basis points to Rp 11,691 per US dollar

The Jakarta Post
Jakarta
Wed, August 27, 2014

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Rupiah falls to 11,691 per dollar  Wednesday morning

The rupiah traded among banks in Jakarta on Wednesday morning depreciated slightly by 10 basis points to Rp 11,691 per US dollar.

Trust Securities head of research Reza Priyambada said that market players were watching the meeting of Russian and Ukrainian presidents, encouraging them to keep their assets in US dollars.

"Due to uncertainty as a result of the meeting, the greenback strengthens, hence limiting room for the rupiah to appreciate," Reza said in Jakarta on Wednesday as quoted by Antara news agency.

Separately, Monex Investindo Futures head of research Ariston Tjendra said that the US dollar strengthened against the majority of world currencies, including the rupiah.

"The dollar received positive sentiments after the US central bank conducted a meeting in Jackson Hole [Wyoming, US)," Ariston said.

After the meeting, officials at the US Federal Reserves announced that the US Fed hike rate plan might be implemented sooner than expected if employment rates continued to improve.

"The US monetary tightening policy is not in line with policies that are taken by other developed countries such as Japan, the UK, Canada, Australia. This will strengthen the US dollar," he said. (nfo)

 

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