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Rupiah closes at Rp 12,400 per dollar on Monday
The rupiah interbank trade rate closed at Rp 12,400 per US dollar on Monday, a 97-basis point jump from Rp 12,497 per US dollar in the previous trade
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he rupiah interbank trade rate closed at Rp 12,400 per US dollar on Monday, a 97-basis point jump from Rp 12,497 per US dollar in the previous trade.
'The rupiah was able to strengthen in the closing session since a number of investors tend to hold their transactions before the Christmas and year-end holidays,' Monex Investindo Futures head of research Ariston Tjendra said in Jakarta as quoted by Antara news agency.
He said that market players in the period tended to avoid short-term period transactions before the beginning of the holiday season.
'However, the appreciation of the rupiah is going to be limited since investors are anxious about the global economic projection in 2015,' he said.
In addition, Woori Korindo Securities Indonesia head of research Reza Priyambada said that Bank Indonesia would try to maintain the domestic currency trade rate at Rp 11,900 per US dollar and Rp 12,300 per US dollar.
Meanwhile, Bank Indonesia's mid-rate data showed that the rupiah was traded at Rp 12,435 per US dollar by 4 p.m. on Monday, up from Rp 12,500 per US dollar in the closing session on Friday last week. (nfo)(++++)
