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Rupiah slides slightly on Friday afternoon
The rupiah interbank rate dropped slightly on Friday afternoon amid speculation around positive data in the US possible triggering the appreciation of the US dollar
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he rupiah interbank rate dropped slightly on Friday afternoon amid speculation around positive data in the US possible triggering the appreciation of the US dollar.
The rupiah weakened by nine points to Rp 14,179 per US dollar on Friday afternoon from Rp 14,170.
Monex Investindo Futures head of research Ariston Tjendra said that all eyes were now on US' upcoming data on non-farm payrolls, unemployment and income figures.
He said that should the data be positive as expected, it would increase the chance of the US raising its interest rate that would ultimately trigger the appreciation of the US dollar.
'Looking at these signals, investors will avoid risky currencies, such as the rupiah,' he said.
Platon Niaga Berjangka analyst Lukman Leong said that the absence of positive sentiments to balance global negative sentiments had left the rupiah in negative territory.
'It is expected that the government will enact an economic stimulus policy to anticipate global negative sentiments so that the rupiah does not depreciate further,' he said.
Meanwhile, the Bank Indonesia median rate showed that the rupiah exchange rate had weakened to Rp 14,178 per US dollar from Rp 14,160 the previous day. (ika)
