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View all search resultsRupiah opens at 12,564 per US dollar on Friday
The rupiah interbank trade rate weakened in Fridayâs opening session by 16 basis points to Rp 12,564 per US dollar, down from Rp 12,548 per US dollar in the previous trading
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T
he rupiah interbank trade rate weakened in Friday's opening session by 16 basis points to Rp 12,564 per US dollar, down from Rp 12,548 per US dollar in the previous trading.
Monex Investindo Futures researcher Zulfirman Basir said that the fall of the domestic currency was triggered by the Swiss National Bank's (SNB) cut in its benchmark interest rate.
This move has encouraged market players to keep their assets in safe-haven currencies like the US dollar.
'Market players see this move as a sign that Switzerland is worried about European economic development in the future,' Zulfirman said.
He said, however, that the rupiah still had a good chance to appreciate in the final trading session since Bank Indonesia had decided to maintain its interest rate at 7.75 percent.
He predicted that the domestic currency would be traded at between Rp 12,520 and Rp 12,615 per US dollar throughout Friday. (nfo)
