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Rupiah strengthens 28 points to Rp 13,045 in morning trade
The rupiah interbank trade rate in Wednesday's first trading session strengthened by 28 basis points to Rp 13,045 per US dollar from Rp 13,073 per dollar in previous trade
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he rupiah interbank trade rate in Wednesday's first trading session strengthened by 28 basis points to Rp 13,045 per US dollar from Rp 13,073 per dollar in previous trade.
NH Korindo Securities Indonesia chief researcher Reza Priyambada said the rupiah had moved into a positive area amid pressure from currencies in the Asian market against the dollar.
The strengthening of the rupiah was supported by optimism among investors at the foreign exchange market on domestic economic data to be released by the Central Statistics Agency (BPS), he said.
"The rupiah exchange rate against the dollar exceeds our previous worry. But everybody has to be watchful because if the economic data to be released is not in line with expectations, such a situation has the potential to put pressure on the rupiah," Reza said as quoted by Antara news agency.
Samuel Sekuritas economist Rangga Cipta said that investors were still waiting for the announcement of March's inflation rate.
On other hand, he said, there was hope from China, which will issue financial stimulus and is expected to help harness the strong dollar. (hhr)
