TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Rupiah weakens to 12,295 per dollar Friday morning
The rupiah interbank trade rate in Jakarta on Friday morning depreciated by five basis points to Rp 12,295 per US dollar, down from Rp 12,290 per US dollar in the earlier trading
Change Size
T
he rupiah interbank trade rate in Jakarta on Friday morning depreciated by five basis points to Rp 12,295 per US dollar, down from Rp 12,290 per US dollar in the earlier trading.
Woori Korindo Securities Indonesia head of research Reza Priyambada said that the depreciation of the domestic currency was caused by the appreciation of the US dollar in the global market following the US economic recovery.
'External sentiments are strong in the market. The players are pessimistic that the rupiah will strengthen,' Reza said as quoted by Antara news agency.
He said that the investors tended to keep their assets in the US since US economic fundamentals were getting better.
Samuel Sekuritas economist Rangga Cipta agreed with Reza, stating that the external sentiments were dominating the market, weakening the domestic currency.
Even though the rupiah trade in the morning touched the lowest level since 2008, its average depreciation remained limited, showing that the country's economic fundamentals were pretty strong.
'The rupiah still had a chance to make improvements in the afternoon because of technical factors,' Rangga said. (nfo)
