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Rupiah strengthens to Rp 13,068 per dollar
The rupiah interbank trade rate strengthened to Rp 13,068 per US dollar in Tuesday's first trading session from Rp 13,075 per dollar in previous trade
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T
he rupiah interbank trade rate strengthened to Rp 13,068 per US dollar in Tuesday's first trading session from Rp 13,075 per dollar in previous trade.
Samuel Sekuritas economist Rangga Cipta said that the rupiah's movement was stable amid the strengthening of the dollar in Asian regions.
'Nearly all currencies in Asia weakened by an average of 0.5 percent after the disclosure of promising data on US housing sales and household expenditures, but the rupiah was stable with limited rising,' he said as quoted by Antara news agency.
He hoped government policies would be able to take control of rupiah fluctuation, thereby enabling it to be stronger in the future.
Positive unemployment rates in Europe were also expected to have positive impacts on the currency markets of developing countries, he added.
NH Korindo Securities Indonesia research head Reza Priyambada attributed the rupiah's strengthening to a lack of positive sentiment.
'But be on the alert and prepare for sentiments that could put pressure on the rupiah against the dollar. It will also be shadowed by sentiment on the US Fed interest-rate hike plan and uncertainty on Greece,' he said.
Reza further said that positive data on inflation and Indonesia's balance sheet to be released on April 1 could further push the rupiah to the level of Rp 12,000 per dollar. (hhr)
