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Rupiah appreciates to 12,149 per dollar on Friday
The rupiah appreciated by 26 basis points to Rp 12,149 per US dollar from Rp 12,175 per US dollar in the earliest interbank trading on Friday morning in Jakarta
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he rupiah appreciated by 26 basis points to Rp 12,149 per US dollar from Rp 12,175 per US dollar in the earliest interbank trading on Friday morning in Jakarta.
Monex Investindo Futures head of research Ariston Tjendra said that the appreciation was caused by the depreciation of the greenback in the global market following debates in the US Federal Reserve on its plan to increase its benchmark interest rate.
'However, this is only a short-term correction," Ariston said.
In addition, Woori Korindo Securities Indonesia head of research Reza Priyambada said that it would be hard for the rupiah to strengthen since the market players were expecting the US central bank to increase its interest rate.
'The market wants the [US] Fed to raise its interest rate immediately. This situation will put more pressure on the rupiah,' Reza said. (nfo)
