The rupiah interbank trade rate in Jakarta on Wednesday morning rose slightly by one basis point to Rp 12,145 per US dollar from Rp 12,146 per dollar in earlier trading
he rupiah interbank trade rate in Jakarta on Wednesday morning rose slightly by one basis point to Rp 12,145 per US dollar from Rp 12,146 per dollar in earlier trading.
Samuel Sekuritas economist Rangga Cipta said market confidence following the US consumer products data helped strengthen the dollar.
'In addition to that, the US Gross Domestic Product data, which was higher than market players expected, prevented the rupiah appreciating significantly,' Rangga said as quoted by Antara news agency.
He said, however, that the domestic currency still had a chance to make improvements in the afternoon since the Brent crude oil price was expected to decrease further.
Separately, PT Platon Niaga Berjangka analyst Lukman Leong said investors were monitoring closely the impact of the fuel price hike on the local inflation rate.
'So far market players see that inflation remains stable since the government is taking serious efforts to maintain the economic fundamentals by spurring infrastructure developments,' Lukman said.
Similar to the rupiah, the Jakarta Composite Index (JCI) slightly increased by 0.12 percent in Wednesday's first trading session to 5.125,23.
Shares of the blue-chip companies traded on the Indonesia Stock Exchange (IDX) meanwhile rose by 0.18 percent to 882.86. (nfo)(+++)
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