Rupiah gains against US dollar

Jakarta (ANTARA News) - Rupiah gained 36 basis points against the US dollar, opening at the level of 11,630 per dollar in the first minutes of trading on Friday.

"Extreme weather came in the way of the US economic recovery responded negatively by the market resulting in US dollar losing value against the majority of Asian currencies including rupiah," chief researcher of Trust Securities Reza Priyambada said.

The US GDP growth also is expected to be slowing that the fall in the dollar value is expected to continue, he added.

He said in addition, the market already responded to the step to be taken by the US central bank regarding its financial stimulus.

Meanwhile, chief researcher of Monex Investindo Futures, Ariston Tjendra, said the US dollar weakened after chairwoman of Federal Reserve Janet Yellen indicated that the US central bank decided to maintain its financial stimulus for a longer time.

"The market players predicted the Fed could postpone plan to trim its financial stimulus and maintain low interest rate if the US economic slowdown continues caused by more than just extreme weather," he said. (*)

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