Rupiah closes at Rp 12,727 per dollar

Sumber: The Jakarta Post | Editor: Barratut Taqiyyah Rafie

JAKARTA. The rupiah interbank trade rate weakened by 82 basis points to Rp 12,727 per US dollar from the previous Rp 12,645 per dollar in Wednesday’s closing session.

Monex Investindo Futures head of research Ariston Tjendra said the rupiah further depreciated as global investors preferred to keep their assets in dollars amid the global economic slowdown.

“Market players are anticipating the outcome of the [US] Federal Reserve meeting. This has encouraged investors to buy shares in a safe-haven currency like the US dollar,” Ariston said on Wednesday as quoted by Antara news agency.

He said that if the Federal Reserve decided to raise its benchmark interest rate, currencies in emerging markets, including the rupiah, would continue to weaken.

“But, if they decide not to increase the rates immediately, the domestic currency will rebound,” he added.

Meanwhile, Bank Indonesia’s mid rate data showed that the rupiah was traded at Rp 12,732 per US dollar by 4 p.m on Wednesday, down from Rp 12,658 per US dollar in the earlier trading.

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