Rupiah`s exchange rate in Jakarta interbank trading on Friday morning moved down by five points to Rp9.728 compared to the previous position Rp9.723 per U.S. dollar.
"The increase in the foreign exchange reserves gives a positive impact on rupiah and withstands its weakening against the U.S. dollar," said Samuel Securities economist Lana Soelistianingsih here Friday.
Lana said the state`s foreign exchange reserves in April 2013 rose to 107.3 billion U.S. dollars. Indonesia`s foreign exchange reserves that are held by the central bank increased 2.5 billion dollars to 107.3 billion U.S. dollars in April 2013.
"The increase was due to the government`s issuance of global bonds worth three billion dollars on April 9. Without the global bonds, Indonesia`s foreign exchange reserves will still be below March`s position at 104.8 billion U.S. dollars," Lana said.
Head of Research at Trust Securities Reza Priyambada added that rupiah has slightly weakened and the positive sentiment that has helped withstand its further weakening came from the successful auction of government securities (GS) with a tenor of five years valued Rp11,5 billion earlier.
The external factor meanwhile is the release of China`s trade balance in which the value of exports rose to give enough positive sentiment for Asian currencies.
However "the positive trend of some Asian currencies was also affected by the decline in Germany`s factory orders followed by the weakening in UK retail sales," he said.
(A050/H-YH)
Editor: Jafar M Sidik
Copyright © ANTARA 2013
