"The external sentiments have had an impact on the rupiahs exchange rate against the US dollar. The local currency closed lower at Rp13,100 per dollar ahead of the Federal Open Market Committee (FOMC) meeting," Monex Investindo Futures chief researcher, Ariston Tjendra, said here on Tuesday.
Prior to the FOMC meeting, market players tended to accumulate the US dollar keeping in view the US Federal Reserves policy to find a guide to raise its interest rate next, he said.
In addition, the rupiah was also under pressure due to global oil prices which were corrected after Iran stated that it will not join the discussion on restricted production, he said.
The decline in oil prices is apprehended to have an impact on the prices of other commodities, he said.
WTI Crude on Tuesday evening stayed at a level of US$36.33 per barrel, down 2.29 percent, while Brent Crude was sold for US$38.64 per barrel, down 2.25 percent.
Money market analyst Rully Nova of Bank Himpunan Saudara said the rupiah still tend to weaken in line with Indonesias balance of trade in February which recorded a surplus of US$1.14 billion, with exports reaching US$11.30 billion and imports valued at US$10.16 billion. (*)
Editor: Heru Purwanto
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