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Rupiah depreciates to Rp 12,070 per dollar at Friday's final trade

The rupiah interbank trade rate at close of trade on Friday weakened slightly by eight basis points to Rp 12,070 per US dollar from Rp12,062 per dollar in the earlier trade

The Jakarta Post
Jakarta
Fri, October 24, 2014

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Rupiah depreciates to Rp 12,070 per dollar at Friday's final trade

T

he rupiah interbank trade rate at close of trade on Friday weakened slightly by eight basis points to Rp 12,070 per US dollar from Rp12,062 per dollar in the earlier trade.

Monex Investindo Futures head of research Ariston Tjendra said that the domestic currency had depreciated because the US dollar had strengthened in the global market following better data regarding US unemployment insurance claims.

'€œThe decrease in US unemployment insurance claims is seen as a good sign by investors; it suggests that the US will see economic recovery,'€ Ariston said as quoted by Antara news agency.

He said, however, that the appreciation of the greenback was still limited as investors were waiting for more economic data from the US, such as its house sales.

In addition, he said that the market players were hoping that the new government would increase the price of subsidized fuel immediately in order to improve the country'€™s current account deficit and trade balance.

Meanwhile, Bank Indonesia data showed that the domestic currency was traded at Rp 12,065 per dollar, down from Rp 12,034 per dollar. (nfo)(++++)

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