Rupiah Down as Commodity Prices Weaken

The rupiah spent the entire day being corrected and closed 75-points down (0.57%) to be traded for Rp13,258 per US dollar. Meanwhile, the dollar index continued to strengthen, gaining 0.21 percent to 96.250 just minutes before the money market closed.

On Thursday, which is the last trading day ahead of the Easter long weekend, the rupiah moved weak between Rp13,188 and Rp13,270 per US dollar.

There is a lack of domestic sentiments and a tendency for commodity prices to weaken, which are allowing the US dollar to strengthen, said Reza Priyambada, chief researcher at NH Korindo Securities Indonesia.

Other ASEAN currencies that were also corrected included the Thailand bath (-0.39%), The Filipina peso (-0.09%), the Singapore dollar (-0.25%), and the Malaysian ringgit (-0.91%).

Over at the stock exchange, the Jakarta Composite Index (JCI) closed with a 27.09-point slip to 4,827,09 despite a foreign net sell of Rp124.08 billion.

 

Source : Tempo.co

March 26, 2016


 
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