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Rupiah closes at Rp 12,872 per dollar on Thursday
The rupiah interbank trade rate in Thursdayâs closing session weakened by 16 basis points to Rp 12,872 per US dollar from Rp 12,856 per US dollar in earlier trade
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he rupiah interbank trade rate in Thursday's closing session weakened by 16 basis points to Rp 12,872 per US dollar from Rp 12,856 per US dollar in earlier trade.
NH Korindo Securities Indonesia head of research Reza Priyambada said the rupiah had started to weaken against the US dollar as market players were worried about the economic slowdown in the eurozone.
'A number of investors are still worried about the possibility that Greece will not be able to repay its debts,' Reza said as quoted by Antara news agency on Thursday.
He also said that some investors were anticipating the release of macroeconomic data that was scheduled to be announced by the State Statistics Agency (BPS) next Monday.
'Market players are paying attention to the domestic economy at the moment and are anticipating a slowdown in the nation's economy,' he explained.
Separately, Monex Investindo Futures head of research Ariston Tjendra added that the players were waiting for an announcement on the consumer price indexes of the US and Canada this week.
'Currencies in emerging markets, including the rupiah, are usually corrected if the indexes increase. In addition, the US is going to release its weekly unemployment claims and nondurable goods [statistics] for January,' he said, adding that such data would impact the domestic currency.
Meanwhile, Bank Indonesia's mid-rate data showed that the rupiah strengthened to Rp 12,862 per US dollar from Rp 12,887 per US dollar in the final trading on Wednesday. (nfo)(++++)
