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Rupiah strengthens, JCI falls at close
The rupiah interbank trade rate strengthened slightly by two basis points to Rp 11,958 per US dollar in Monday's closing session
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The rupiah interbank trade rate strengthened slightly by two basis points to Rp 11,958 per US dollar in Monday's closing session.
"The decreasing price of global oil has provided positive sentiment toward the rupiah even though the effect is marginal," Monex Investindo Futures analyst Zulfirman Basir said as quoted by Antara news agency.
According to him, market players have said the condition will help reduce the country's current-account deficit.
The global price of oil is expected to decrease to as low as $88.95 per barrel following the publication of Chinese, European and US manufacturing data this month.
Meanwhile, the Jakarta Composite Index (JCI) closed on a negative note on Monday, falling 0.15 percent to finish at 5,219.8.
The volume of trade involved 4.3 billion shares worth Rp 4.5 trillion (US$ 375.49 million).
Indices in Asia that weakened during the final trading session were Japan's Nikkei and Hong Kong's Hang Seng, which dropped 0.71 percent and 1.44 percent, respectively. (nfo)
