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Rupiah opens at Rp 12,529 per dollar on Thursday
The rupiah interbank trade rate in Jakarta on Thursday morning depreciated by 44 basis points to Rp 12,529 per US dollar from Rp 12,458 per US dollar in the earlier trade
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he rupiah interbank trade rate in Jakarta on Thursday morning depreciated by 44 basis points to Rp 12,529 per US dollar from Rp 12,458 per US dollar in the earlier trade.
'The rupiah and other currencies across Asia weakened in the opening session after the [US] Federal Reserve said it was content with economic development in the US at the moment,' Samuel Sekuritas economist Rangga Cipta said as quoted by Antara news agency.
He added, however, that the appreciation of the US dollar was still limited, since the US inflation rate remained low.
Market players have predicted that this situation will prevent the Fed from increasing its benchmark interest rate anytime soon.
'This means that the rupiah still has a chance to strengthen in the near future because the possibility of shock from external markets is small,' he explained.
He also said that the Fed was aware of the possible global economic downturn, which would affect US economic development. (nfo)
