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Rupiah closes at 12,982 per dollar on Wednesday
The rupiah interbank trade rate in Jakarta weakened on Wednesday by 20 basis points to Rp 12,982 per US dollar in the closing session
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The rupiah interbank trade rate in Jakarta weakened on Wednesday by 20 basis points to Rp 12,982 per US dollar in the closing session.
Monex Investindo Futures head of research Ariston Tjendra said that the majority of the world's currencies, including the rupiah, are on a downward trend as market players anticipate the outcome of a European Central Bank (ECB) meeting this week.
'The [US] Federal Reserve is still expected to increase its rate this year while other central banks across the globe are loosening their monetary policies to help boost the economy,' Ariston said as quoted by Antara news agency on Wednesday.
He also said that investors are waiting for a number of the US macroeconomic data, such as on its non-farm payrolls, the non-manufacturing sector, weekly crude oil and the monetary outlook announcement from the head of the Fed's Chicago branch.
'The data will create volatility in the financial markets. Players are expecting to see improvements in the US economy,' he said.
Meanwhile, Bank Indonesia's mid-rate data revealed the domestic currency was traded at Rp 12,963 per US dollar during the final trading session. (nfo)(++++)
