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Rupiah rises 9 points to Rp 13,056 per dollar
The rupiah interbank trade rate in Monday's first trading session strengthened 9 basis points to Rp 13,056 per US dollar from Rp 13,065 per dollar in previous trade
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he rupiah interbank trade rate in Monday's first trading session strengthened 9 basis points to Rp 13,056 per US dollar from Rp 13,065 per dollar in previous trade.
"The rupiah has moved up narrowly as investors are in wait-and-see mode as they wait for the release of Indonesia's economic data in early April," chief researcher at NH Korindo Securities Indonesia Reza Priyambada said in Jakarta as quoted by Antara news agency.
According to Reza, the rupiah's growth had been hindered by the forecast of inflation on the back of the government's fuel-price increases.
On the other hand, he said, external sentiment related to the US Federal Reserve's possible interest rate-hike still shadowed it after the disclosure of US unemployment claims, which showed a downtrend. Brighter manufacturing sector data has also led to speculation of the possible acceleration of the interest rate by the Fed.
PT Platon Niaga Berjangka analyst Lukman Leong shared Reza's remarks, saying that external sentiment with regard to the possible Fed interest-rate hike still dominated the local foreign exchange market, causing investors to take a wait-and-see stance.
"The Fed will continue to haunt currencies of developing countries, including the rupiah, This factor hinders the rupiah from rising higher," he added. (hhr)
