Wednesday, 22nd October 2014

Rupiah weakens to 9,403 per US dollar

Jumat, 6 Juli 2012 18:22 WIB | 1.597 Views
Rupiah weakens to 9,403 per US dollar
Rupiah. (ANTARA/Eric Ireng)
Jakarta (ANTARA News) - Rupiah fell 13 points to 9,403 against the US dollar on Friday afternoon in reaction to the European Central Bank cutting benchmark interest rate.

"The market players responded negatively to interest cutting policy of ECB that sought to curb economic slowdown," says Abidin , an analyst from Milenium Danatam Sekuritas.

Abidin, however, described the rupiah fall from the level of 9,390 earlier as insignificant.

"As usual, intervention by Bank Indonesia prevented the rupiah from falling deeper," he said.

Foreign exchange observer Johannes Ginting from Monex Investindo Futures said the US dollar recovered quickly against the majority of the world`s currencies on improved trend of US unemployment data.

According to a report released by the US labor ministry unemployment fell 14,000 to 374,000 last week or the lowest since mid May.
(Uu.ASH-ASG/F001)