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Rupiah weakens to Rp 13,272 in morning trade
The rupiah interbank trade rate in Wednesday's morning session weakened by 22 points to Rp 13,272 per dollar from Rp 13,250 in the previous trade
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he rupiah interbank trade rate in Wednesday's morning session weakened by 22 points to Rp 13,272 per dollar from Rp 13,250 in the previous trade.
Samuel Sekuritas economist Rangga Cipta said that the US dollar strengthened again against the majority of the global currencies, including the rupiah, after data on new housing sales in the US rose above market expectations.
"The positive data on the new housing sales reopens the chance for the Fed rate to rise this September. The Fed officials think there is a 50-50 chance to they will raise the Fed benchmark rate," Rangga said as quoted by Antara news agency.
The US Commerce Department said new home sales rose 2.2 percent to a seasonally adjusted annual rate of 546,000 units in May, the highest level since February 2008. April's sales pace was revised sharply higher.
Meanwhile, Bank Himpunan Saudara forex market observer Rully Nova said that Bank Indonesia predicted the domestic economy in the second quarter of this year would be better than in the previous quarters before being able to prevent further rupiah depreciation.
"Indonesian economic growth will improve in line with disbursement of the state budget funds [...] this situation will further push economic growth upward," he said. (hhr)(+++)
