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Economy in brief: Rupiah closes at 12,482 per dollar
The rupiah interbank trade rate in Jakarta at the close of Thursdayâs trading day appreciated slightly by five basis points to Rp 12,482 per US dollar from the previous Rp 12,487 per dollar
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he rupiah interbank trade rate in Jakarta at the close of Thursday's trading day appreciated slightly by five basis points to Rp 12,482 per US dollar from the previous Rp 12,487 per dollar.
'Since the Federal Reserve decided not to raise its rates immediately, the rupiah continues to improve in the market,' Monex Investindo Futures research head Ariston Tjendra said in Jakarta on Thursday as quoted by Antara news agency.
Ariston cautioned, however, that the appreciation of the domestic currency would remain limited because the Fed predicted that the US economy would continue to grow despite its low inflation rate.
'US economic expansion is still pretty solid and its macroeconomic data shows that there are more new jobs, decreasing the unemployment rate,' he explained.
Meanwhile, Bank Indonesia data revealed that the rupiah weakened to Rp 12,515 per US dollar by 4 p.m. on Thursday, 17 points down from Rp 12,498 per dollar in the earlier trade.
