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Rupiah falls to 11,979 Tuesday morning

The rupiah interbank trade rate on Tuesday morning weakened slightly by four basis points to Rp 11,979 per US dollar

The Jakarta Post
Jakarta
Tue, September 23, 2014

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Rupiah falls to 11,979 Tuesday morning

The rupiah interbank trade rate on Tuesday morning weakened slightly by four basis points to Rp 11,979 per US dollar.

Indonesian Association of Securities Analysts (AAEI) analyst Reza Priyambada said the fact that the market saw the US central bank would not immediately increase its Federal Reserve rate has prevented the rupiah from falling significantly.

"We are hoping that this trend will continue throughout the day so that the rupiah will have room to strengthen," Reza said, as quoted by Antara news agency.

He also said that the European Central Bank (ECB) decision to not increase stimulus has helped strengthen the euro, impacting the domestic currency positively.

Separately, Monex Investindo Futures analyst Zulfirman Basir said that the global crude oil price, which is currently tending to decrease, gave a positive momentum to the rupiah.

"The situation has spurred optimism in market players that the country's current account deficit can be reduced," Zulfirman said. (nfo)(++++)

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