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Rupiah appreciates to 12,129 per dollar at Monday's close
The rupiah interbank trade rate in Jakarta was closed at Rp 12,129 per US dollar on Monday, up by 17 basis points from Rp 12,146 per US dollar in the previous trading sessionâChina central bankâs decision to reduce its benchmark deposit rate and lending rate have created positive sentiment in the market, since this policy will stimulate Chinaâs economy,â Bank Himpunan Saudara analyst Rully Nova said in Jakarta on Monday as quoted by Antara news agency
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he rupiah interbank trade rate in Jakarta was closed at Rp 12,129 per US dollar on Monday, up by 17 basis points from Rp 12,146 per US dollar in the previous trading session
'China central bank's decision to reduce its benchmark deposit rate and lending rate have created positive sentiment in the market, since this policy will stimulate China's economy,' Bank Himpunan Saudara analyst Rully Nova said in Jakarta on Monday as quoted by Antara news agency.
He said that domestic sentiment had also contributed to the appreciation of the rupiah in the final session, especially the government's recent decision to increase the price of fuel and Bank Indonesia's move to increase its benchmark interest rate to 7.75 percent.
'Indonesia's fundamental economy remains good amid the global economic slowdown,' he said.
Separately, Monex Investindo Futures analyst Zulfirman Basir said market players were expecting increasing exports from Indonesia to China following the latter's move to increase its deposit rate and lending rate.
Zulfirman said, however, that the market still anticipated the US Federal Reserve's plan to increase its rate at the beginning of 2015. Its decision would impact on the financial market globally.
Meanwhile, Bank Indonesia data showed that the domestic currency was traded at Rp 12,122 per US dollar, appreciating by 39 basis points to Rp 12,161 per US dollar. (nfo)(+++)
