However, the currency market tends to flatten presuming there would be no big event during this last week of 2013."Jakarta (ANTARA News) - The rupiah currency depreciated 64 points to Rp12,265 per US dollar during the inter-bank transaction on Friday, having weakened further than a day before, Dec 25, at Rp12,201 per US dollar.
"Dollar bounces again following the solid data that US economy is recovering and strengthens the market perspective that Federal Reserve will continue its tapering off program," stated Monex Investindo Futuress Head of Research Ariston Tjendra, here on Friday.
According to Tjendra, the current US economy is strong enough to keep the US dollars appreciation until the end of this year, as well as to convince the investors that the Federal Reserve will continue its tapering off initiative.
"However, the currency market tends to flatten presuming there would be no big event during this last week of 2013," he noted.
Meanwhile, Market Analyst of Bank Himpunan Saudara Ruly Nova explained that the rupiah had depreciated as the domestic market was lacking positive sentiments following the Indonesian trade balance data.
"It is also impacted by the tapering off program, where the Federal Reserves has cut off ten billion dollars off its stimulus - from US 85 billion dollars to 75 billion dollars, thus tightening the US dollar liquidity," Nova stated.
Nova added that the rupiah still has the potential to appreciate toward the US dollar following the lessening of foreign exchange transactions due to speculation of selling the rupiah.
(Uu.A060/INE/KR-BSR/O001)
Editor: Priyambodo RH
Copyright © ANTARA 2013
