Rupiah losses more value against the US dollar

Women walk toward the entrance of Indonesia's central bank building in JakartaRupiah lost more value against the US dollar to cross the psychological level of 10,000 to follow regional trend in opening trade on Tuesday.

Rupiah traded at the level of 10,010 per dollar in inter-bank transaction from Monday`s close of 9,990 .

Samuel Sekuritas` economist Lana Soelistianingsih said most Asian currencies weakened on slowdown in Chinese economic growth.

Lana, however, said she was confident, rupiah could regain some of its lost value to reach the level of 9,950–9,990 per dollar on protection by Bank Indonesia.

Trust Securities’ chief researcher Reza Priyambada said Chinese economic slowdown could have its effects on Indonesia`s trade balance.

“It is natural as China is Indonesia`s largest trading partner,” Reza said .

He said the rise of Bank Indonesia benchmark interest rate (BI rate) from 6 percent to 6.5 percent could not directly prop up rupiah.[]

Leave a Reply

Your email address will not be published. Required fields are marked *