Rupiah weakens to close to Rp14,200 per dollar over weekend

Rupiah weakens to close to Rp14,200 per dollar over weekend

Photo document of Rupiah and US dollars. (ANTARA)

External factors dominated (the movement of the rupiah's exchange rate), particularly after the presidential election and the meeting of Bank Indonesia's board of governors.
Jakarta (ANTARA) - The rupiah continued to weaken over the weekend, falling to close to Rp 14,200 per the United States dollar on the Jakarta interbank spot market

The rupiah tumbled 13 points, or 0.09 percent, to Rp14,199 per dollar compared to the previous Rp14,186 per dollar.

Market analyst Rully Arya Wisnubroto of publicly-listed state lender PT Bank Mandiri (Persero) Tbk said that the rupiah's exchange rate on Friday was influenced by external factors.

"External factors dominated (the movement of the rupiah's exchange rate), particularly after the presidential election and the meeting of Bank Indonesia's board of governors," Wisnubroto said.

The external factors included better-than-expected US economic data, he said, adding that investors are currently awaiting the release of US gross domestic product (GDP) data.

"Looking ahead, it seems that the rupiah would remain stable at a range of Rp14,100 to Rp14,200 per dollar. There has been no significant change yet," he said.

The rupiah weakened at Rp14,194 per dollar in the opening trade on Friday morning. Throughout the day, the Indonesian currency moved within the range of Rp14,177 per dollar to Rp14,199 per dollar.

According to Bank Indonesia's mid rate on Friday, the rupiah weakened l to Rp14,188 per dollar compared to the previous close of Rp14,154 per dollar.
 

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