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Rupiah appreciates to 11,951 per dollar in final trading session
The rupiah interbank trade rate in Tuesdayâs final trading session appreciated by 24 basis points to Rp 11,951 per US dollar
Change Size
The rupiah interbank trade rate in Tuesday's final trading session appreciated by 24 basis points to Rp 11,951 per US dollar.
"The rupiah strengthened in the closing session due to lack of negative sentiment from both domestic and global market players," PT Platon Niaga Berjangka analyst Lukman Leong said as quoted by Antara news agency.
He said that investors in the domestic market were optimistic as president-elect Joko "Jokowi" Widodo had promised to spur infrastructure development.
Separately, Monex Investindo Futures analyst Zulfirman Basir said that China's increased manufacturing activities and global oil price decrease made market players optimistic about Indonesia's economic growth.
Bank Indonesia's mid rate data showed that the domestic currency was traded at 11,987 per dollar by 4:00 p.m. on Tuesday.
Meanwhile, the Jakarta Composite Index (JCI) closed on a negative note, declining by 0.61 percent to finish at 5,188.11.
Shares of blue-chip firms traded on the Indonesia Stock Exchange (IDX) weakened by 0.82 percent to 883.67. (++++)
