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Rupiah weakens 55 points to 13,015 per dollar on Monday morning
The rupiah interbank trade rate in Monday's first trading session depreciated by 55 basis points to Rp 13,015 per US dollar from Rp 12,960 per dollar in the previous trade
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he rupiah interbank trade rate in Monday's first trading session depreciated by 55 basis points to Rp 13,015 per US dollar from Rp 12,960 per dollar in the previous trade.
"The rupiah's volatility remains high. The inflation rate in April is widely expected by currency investors to go up as rising inflation has the potential to pressure the rupiah," Samuel Securitas economist Rangga Cipta said as quoted by Antara news agency.
PT Platon Niaga Berjangka analyst Lukman Leong said that external factors continued haunting the rupiah rate, especially negative sentiments that are not giving any certainty about when the US interest rates will be raised.
However, he said, the pressure against the rupiah was only temporary amid confidence among investors that the inflation data and Indonesia's balance of trade would still be positive.
He further said that Bank Indonesia would continue intervening in the domestic foreign exchange market to prevent fluctuations of the rupiah rate from raising sharply. (hhr)
