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Rupiah falls to 12,193 per dollar at Friday's close
The rupiah interbank trade rate closed at Rp 12,193 per US dollar on Friday, down by 18 basis points from Rp 12,175 per US dollar in the previous trading
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he rupiah interbank trade rate closed at Rp 12,193 per US dollar on Friday, down by 18 basis points from Rp 12,175 per US dollar in the previous trading.
Bank Himpunan Saudara analyst Rully Nova said that the domination of the US dollar following the market's positive sentiment in the US economic recovery had exerted pressure on the rupiah.
'The low inflation rate in a number of countries across the Eurozone has encouraged the European central bank to loosen its monetary policy, a condition that helps appreciate the US dollar,' Rully said as quoted by Antara news agency.
He also said the depreciation of the domestic currency was caused by the fact that market players had assumed a wait-and-see approach in anticipation of the release of Indonesia's macroeconomic data on Monday.
'They are hoping that the country's trade balance will post a better performance following the fuel-prices hike,' he added.
Separately, Bank Mandiri analyst Rully Arya Wisnubroto said that the rupiah had a good chance of rebounding next week.
Meanwhile, Bank Indonesia data showed that the domestic currency was trading at Rp 12,196 per US dollar at 4 p.m. on Friday, down from Rp 12,179 per US dollar in the earlier trade. (nfo)(++++)
