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Rupiah falls to 12,172 per dollar in Wednesday's final session
The rupiah interbank trade rate in Jakarta depreciated by 55 basis points to Rp 12,172 per US dollar in Wednesday's closing trade
Change Size
The rupiah interbank trade rate in Jakarta depreciated by 55 basis points to Rp 12,172 per US dollar in Wednesday's closing trade.
"The country's trade balance deficit has affected the rate of the rupiah," Bank Himpunan Saudara analyst Rully Nova said, as quoted by Antara news agency.
The Central Statistics Agency (BPS) revealed this morning that Indonesia's trade balance had suffered a US$318.1 million deficit in August this year.
"The deficit in the oil and gas sector, which stood at $801.1 million, is the main cause of the country's trade balance deficit," he said.
He said, however, the 0.27 percent inflation rate in September, which was relatively low, prevented the rupiah from significantly depreciating during the closing session.
In addition, he said that the domestic currency might continue its depreciation due to political conditions in the country, as well as global market expectations on the Federal Reserve rate hike plan.
Meanwhile, Bank Indonesia's mid-rate data showed that the rupiah was traded at Rp 12,188 per US dollar, up from Rp 12,212 per US dollar in earlier trading. (nfo)(++++)
