Rupiah weakens against US dollar
Wed, March 3 2010 13:13 | 1071 Views
Jakarta (ANTARA News) - The rupiah weakened against the US dollar in the Jakarta interbank spot market here on Wednesday morning as investors continued to release the local unit.
The Indonesian currency traded Rp9,270-Rp9,280 per US dollar, down 20 points from Rp9,250-Rp9,260 per US dollar at the market`s close a day earlier.
The rupiah`s depreciation had continued because investors were still worried over the domestic political situation, said Kostaman Thayib, retail banking director of PT Bank Mega Tbk.
They also waited for the continuation of the House of Representatives (DPR)`s plenary session on the Bank Century bailout case which had ended in chaos on Tuesday.
Farial Anwar, a domestic money market observer, said although the rupiah had depreciated, its position was not far below the level of Rp9,300 per US dollar.
"We predict that the market is still waiting for the continuation of the DPR plenary session to be conducted today," he said.
The House plenary on the Bank Century bailout scandal was adjourned after an argument between the chair and the floor ended in chaos, and a rally outside the parliament building turned violent here on Tuesday.
As many legislators tried to make an interruption, House Speaker Marzuki Alie who led the plenary session seemed to lose control over the discussions.
Without the consent of the session`s participants, the House Speaker suddenly declared the meeting closed as the chaos went on.(*)Editor: Heru
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