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Rupiah strengthens by 10 points to 12,978 per dollar
The rupiah interbank trade rate in Tuesday's first trading session strengthened by 10 basis points to Rp 12,978 per dollar from Rp 12,988 per dollar in the previous trade
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he rupiah interbank trade rate in Tuesday's first trading session strengthened by 10 basis points to Rp 12,978 per dollar from Rp 12,988 per dollar in the previous trade.
"Expectations that the government's expenditures will be maximized in the second quarter this year constitutes a positive sentiment for the rupiah," Bank Himpunan Saudara foreign exchange market observer Rully Nova said as quoted by the Antara news agency.
According to him, the government's expenditures will be maximized especially in the framework for supporting infrastructure development that will become a better support for the Indonesian economy in the future.
Samuel Sekuritas analyst Rangga Cipta said that data on the gross domestic product to be released on Tuesday were estimated to be in the range of 4.8 and 4.9 percent. The figure, which will be lower than in the previous quarter, has managed to curb the rupiah exchange rate.
"The government is expected to respond to the sluggishness with policies that will help speed up budget disbursement, while Bank Indonesia will help through extended monetary easing," he said. (hhr)
