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Rupiah opens at Rp 12,493 per dollar on Wednesday
The rupiah interbank trade rate in Jakarta in Wednesdayâs first trading session depreciated by 23 basis points to Rp 12,493 per US dollar from Rp 12,470 per US dollar in the earlier trade
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he rupiah interbank trade rate in Jakarta in Wednesday's first trading session depreciated by 23 basis points to Rp 12,493 per US dollar from Rp 12,470 per US dollar in the earlier trade.
'The rupiah has tended to weaken this morning because the market players are anticipating the outcome of the Federal Reserve meeting,' PT Platon Niaga Berjangka analyst Lukman Leong said as quoted by Antara news agency.
He said the possibility that the Federal Reserve would announce a plan to raise its benchmark interest rate had weakened a number of currencies, including the rupiah.
Lukman expressed hope, however, that sentiments from the domestic market would be enough to compensate the negative sentiments from the external market.
The domestic currency, however, still had a chance to strengthen as the government continued focusing its programs to develop infrastructure across the archipelago.
'Infrastructure development will support the growth of the economy in the long run,' he said.
Woori Korindo Securities Indonesia head of research Reza Priyambada added that negative sentiments from Greece and the European Central Bank's quantitative easing policy were expected to help strengthen the rupiah. (nfo)
