The Jakarta Post
The rupiah interbank trade rate on Friday's morning session fell nine basis points to Rp 13,335 per dollar from Rp 13,326 per dollar on the previous trade.
Samuel Sekuritas economist Rangga Cipta attributed the rupiah fall to the absence of an agreement on the settlement of the Greek debt crisis, which gave pressures to the movement of currencies in developing countries, including Indonesia.
Rangga said that delays in reaching the agreement were caused by additional requirements made by the European Commission, the European Central Bank and the International Monetary Fund in the Greek proposals for its debt bailout, thereby causing worries on the global markets ahead of the deadline expiration by the end of this month.
"Due to such uncertainty, demand for the US dollar by investors will continue to rise in the Asian region," he said as quoted by Antara news agency.
Aside from worries about the situation in Greece, Rangga said that investors in the domestic currency markets were also affected by the prediction that the June inflation rate would be high and this would put pressure on the government securities and the rupiah itself.
Meanwhile, Bank Himpunan Saudara currency market observer Rully Nova said that the Central Statistics Agency was scheduled to announce the June inflation data at the beginning of next month.
"Historically, the Ramadhan fasting month and Lebaran celebration tends to contribute greatly to the inflation rate," Rully said. (hhr)
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