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Rupiah falls to 11,997 per dollar Friday morning
The rupiah interbank trade rate depreciated on Friday morning by 15 basis points, falling to 11,997 per US dollar
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The rupiah interbank trade rate depreciated on Friday morning by 15 basis points, falling to 11,997 per US dollar.
"The rupiah has continued to depreciate due to negative sentiment in the global market. Most of the currencies across Asia also weakened in the morning," Bank Himpunan Saudara analyst Rully Nova said Friday as quoted by Antara news agency.
He said global market players were concerned about the US government's plan to attack Islamic State (IS) militants in Iraq, as well as rising tensions between Ukraine and Russia.
"The players are afraid that these conditions will hamper the recovery of the global economy. This is having a severe impact on currencies in emerging markets, including Indonesia," he added.
In the domestic market, he said dollar demand was increasing as the government planned to pay off its foreign debts at the end of October.
This put more pressure on the rupiah during Friday's opening trade.
According to Bank Indonesia data, the country's foreign debts stood at US$290.6 billion throughout July this year, up from $284.9 billion the previous month.
"Market players are hoping that the government will issue a new hedging policy to help reduce the negative impact on the rupiah," Rully added. (nfo)
