Rupiah Loses More Points in Tuesday Close

Jakarta, MINA — The exchange value of the national currency rupiah fell against the U.S. dollar on Tuesday close on external factor, analysts said.

Rupiah traded at the level of 14,622 per U.S. dollar weakening from earlier level of 14,595.

Tthe market players still tended to keep strong currencies amid expectation that the U.S. Central Bank would soon raise its fund rate, Antara News reported, ciiting senior analysts of CSA Research Institue Reza Priyambada.

“There would be gradual increase in the U.S. fund rate to follow improvement of the economic condition of that country,” Reza said.

However, rupiah depreciation is relatively limited with the inflow of foreign fund back to the domestic market, that could strengthen the national currency, he said .

Deescalation of trade war to follow agreement between the United States and Mexico removed most of the worries of the market players in developing economies, he said.

“This time trade agreement between the United States and Mexico is responded enthusiastically by the market players and the impact is expected to be positive in developing countries,” he added.   (T/RS5/RS1)

 Mi’raj Islamic News Agency (MINA)