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Rupiah slips to 12,007 per dollar in afternoon trade
The rupiah interbank trade rate in Jakarta in Thursday's final session depreciated to Rp 12,007 per US dollar
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The rupiah interbank trade rate in Jakarta in Thursday's final session depreciated to Rp 12,007 per US dollar.
"The rupiah has surpassed the Rp 12,000 per dollar level following sentiment from the Federal Open Market Committee meeting result, which is expected to increase the [Federal Reserve] rate," Bank Himpunan Saudara analyst Rully Nova said, as quoted by Antara news agency.
This has encouraged market players to make transactions in US dollars, correcting almost all currencies across the globe.
He also said that demand for US dollars in the domestic market was high at the moment since the government needed to pay its foreign debts.
According to Bank Indonesia data, the state's foreign debts stood at US$290.6 billion throughout July, up from $284.9 billion in the previous month.
Separately, Monex Investindo Futures analyst Zulfirman Basir said that global market players predicted the Fed rate in 2015 would reach 1.375 percent, up from their previous projection of 1.125 percent.
Meanwhile, Bank Indonesia's mid-rate data showed that the domestic currency was being traded at Rp 12,030 per US dollar at Thursday's close, down from an earlier Rp 11,908 per US dollar. (nfo)
