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View all search resultsRupiah drops slightly on Friday morning
The rupiah exchange rate weakened slightly on Friday morning as investors were still waiting for the US Federal Reserveâs interest rate hike
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T
he rupiah exchange rate weakened slightly on Friday morning as investors were still waiting for the US Federal Reserve's interest rate hike.
The rupiah dropped by 25 points to Rp 14,015 per US dollar during Friday morning's trading from Rp 13,990.
'The rupiah is tending to depreciate against the US dollar but it is still limited as investors are still waiting for the Fed's decision to increase its interest rate in September due to the US' worsening economy,' NH Korindo Securities Indonesia head of research Reza Priyambada said, as quoted by Antara news agency.
Yet, Bank Indonesia's call for investors to sell foreign currencies had helped to prop up the rupiah's value, he said.
Reza said that the rupiah still had breathing space as reports had suggested that the government planned to issue an economic stimulus package.
Plafon Niaga Berjangka analyst Lukman Leong said that investors' worries over the US interest hike had eased amid the slowing down of the US and global economies.
He also added that foreign exchange investors were still waiting for the Central Statistic Agency's report on Indonesia's inflation rate, which would be published next week, as the figure would also determine the value of the rupiah. (ika)
