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Rupiah weakens to Rp 13,000 per dollar on Thursday morning
The rupiah interbank trade rate on Thursday morning weakened by 25 basis points to Rp 13,000 per US dollar from the previous Rp 12,975 per US dollar
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he rupiah interbank trade rate on Thursday morning weakened by 25 basis points to Rp 13,000 per US dollar from the previous Rp 12,975 per US dollar.
'The rupiah continues its depreciation in the financial market after the US ADP [Automatic Data Processing] showed that the private sector added 212,000 new jobs throughout February [2015],' Monex Investindo Futures head of research Ariston Tjendra said as quoted by Antara news agency.
He said the figure showed that the US economy was improving, hence it strengthened the trade of the US dollar in the market in the first trading session, putting pressure on currencies across the world.
He also said the appreciation of the US greenback in the market was supported by US bonds' high yield over the past few days.
Separately, NH Korindo Securities Indonesia head of research Reza Priyambada said the market players were expecting Bank Indonesia to lower its benchmark interest rate in the near future.
'This expectation will encourage players with short term investments to exit from rupiah denominated assets,' Reza said. (nfo)
