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Rupiah rises to 12,468 in opening session
The rupiah opened at 12,468 per US dollar on Friday, up from 12,562 per dollar
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The rupiah opened at 12,468 per US dollar on Friday, up from 12,562 per dollar.
Chief researcher of Woori Korindo Securities Indonesia Reza Priyambada attributed the rupiah's strengthening to intervention by Bank Indonesia.
"The central bank statement saying that it would protect the rupiah within the level of 11,900-12,300 produced positive sentiment as it signaled certainty," Reza said as quoted by Antara news agency.
The earlier statement by the US Federal Reserve following its Federal Open Market Committee meeting that it would be patient before raising interest rates also contributed to the rupiah's rise in value, he said.
Financial market observer from Bank Himpunan Saudara, Rully Nova, said emerging market currencies were boosted by the Fed statement.
Meanwhile the seriousness shown by the Indonesian government in improving the country's infrastructure also helped the domestic market, Rully said. (hhr)
