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Rupiah opens at Rp 12,972 per dollar on Friday
The rupiah interbank trade rate in Jakarta on Friday morning strengthened slighly by three basis points to Rp 12,972 per US dollar from Rp 12,975 per US dollar in earlier trade
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he rupiah interbank trade rate in Jakarta on Friday morning strengthened slighly by three basis points to Rp 12,972 per US dollar from Rp 12,975 per US dollar in earlier trade.
'Bank Indonesia's statement regarding the rupiah have made the market players less worried about the nation's economy. It helped stabilize the rupiah in the morning,' NH Korindo Securities Indonesia head of research Reza Priyambada said as quoted by Antara news agency.
He added that positive sentiments from the Eurozone market improved the rupiah trade in the first trading session.
European Central Bank's (ECB) decision to maintain its interest rate at a relatively low level is believed to help lessen the impact of the ongoing economic slowdown in the continent.
'This sentiment creates positive responses among market players. Economic recovery in Europe will develop the global economy including Indonesia,' he continued.
He cautioned, however, that the domestic currency still had a chance to slip in the near future, since the US Federal Reserve was sticking with their original plan to increase the Fed fund rates. (nfo)
