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Rupiah closes at 12,497 per dollar on Monday
The rupiah interbank trade rate in Jakarta closed at Rp 12,497 per US dollar on Monday, weakening by 38 basis points from Rp 12,459 per US dollar in the earlier trading session
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he rupiah interbank trade rate in Jakarta closed at Rp 12,497 per US dollar on Monday, weakening by 38 basis points from Rp 12,459 per US dollar in the earlier trading session.
'External factors are the main trigger affecting the rupiah trade at the start of the week,' Monex Investindo Futures head of research Ariston Tjendra said as quoted by Antara news agency.
Ariston said the market experienced turbulence after the radical left Syriza party won a decisive victory in the Greek general election. The development had encouraged investors to keep their assets in the US dollar.
Syriza's win has opened up the possibility of Greece exiting the eurozone, disturbing the Greek government's planned bailout programs.
'Market players are anxious at the moment. We can see high demand for the US dollar in the market and it [the US dollar] has strengthened against almost all currencies across the globe,' he explained.
He added, however, that domestic sentiments had prevented the rupiah from falling further because players remained optimistic that the country's gross domestic product (GDP) would grow by around 5.6 to 5.8 percent this year.
Meanwhile, Bank Indonesia's mid-rate data showed that the domestic currency had depreciated to Rp 12,517 per US dollar by 4 p.m. on Monday from Rp 12,444 per US dollar in the previous trading session. (nfo)(+++)
