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View all search resultsRupiah weakens to 13,288 per dollar on Thursday afternoon
The rupiah exchange rate traded among banks in Jakarta on Thursday afternoon weakened by 83 points to Rp 13,288 per US dollar from Rp 13,205
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T
he rupiah exchange rate traded among banks in Jakarta on Thursday afternoon weakened by 83 points to Rp 13,288 per US dollar from Rp 13,205.
'Combined external and domestic negative sentiments pushed the rupiah to depreciate quite steeply,' Bank Himpunan Saudara financial market analyst Rully Nova said in Jakarta on Thursday.
The analyst said negative sentiments in the financial sector, related to Greek debt problems and domestic inflation trends had dominated Thursday's trading.
'In the short and medium term, it will be quite difficult for the rupiah to strengthen,' said Rully.
The analyst said it was hoped that there would be an agreement in the settlement of Greece's debts so that it could avoid bond failures that would bring a negative impact on banking in Europe.
'If there is no agreement, the domino effects can reach Asian countries, including Indonesia. On the other side, the US Federal Reserve's [Fed] plan to increase its Fed fund rate will also still shadow the global financial markets,' said Rully.
In the midst of fluctuating negative sentiments, the analyst said, financial market players would place their assets in the US dollar because this could protect the value of their assets from depreciating due to circulating negative sentiments.
PT Monex Investindo Futures head of research, Ariston Tjendra, said US dollar appreciation was also supported by the recently released ADP's US non-farm payroll (NFP) data that was better than predicted by the markets and stood above 200,000 workers.
'The figure has pushed up optimism that US government NFP data to be released on Friday will also increase,' he said.
Bank Indonesia's median rate recorded that the rupiah weakened to Rp 13,243 per US dollar on Thursday from Rp 13,196 in the previous day. (ebf)(+++)
