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Rupiah weakens on Greek result
The rupiah interbank trade rate in Jakarta weakened by 32 basis points to Rp 13,351 per US dollar from Rp 13,319 per dollar in previous trading
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he rupiah interbank trade rate in Jakarta weakened by 32 basis points to Rp 13,351 per US dollar from Rp 13,319 per dollar in previous trading.
Samuel Sekuritas economist Rangga Cipta said the rupiah weakened together with the majority of Asian currencies following the referendum in Greece.
"External pressure forced the rupiah to make corrections. Even though its impact on the Indonesian financial market was limited, it caused panic on the global markets and rapidly sparked sell actions in the domestic market," Rangga said as quoted by Antara news agency.
According to him the referendum result in Greece, which rejected proposals from that nation's creditors, would intensify liquidity crisis potential and could force Greece out of the Euro zone.
Chief researcher of Monex Investindo Futures Ariston Tjendra said that Greece would be one of the global financial market movers this week. The markets will respond to comments by European officials on the future of Greece.
"Uncertainty grips the financial markets and investors are waiting for any statement from the Greek government and the creditors in response to the results of the referendum. This situation will have a negative effect on the financial markets in countries with risk, including Indonesia," he said. (hhr)
