Jakarta (Antara Bali ) -The Rupiah weakened by 10 points at the opening of the markets on Tuesday. The slump was triggered by the global economic slowdown that has forced market players to enter more secure assets.
The currency's exchange rate in Jakarta inter-bank's transaction weakened by 10 points to Rp9.575 per US dollar from the previous mark of Rp9.565 per US dollar.
"The global economic slowdown is still driving market players to enter more secure instruments such as the US dollars currency," said the research head of Monex Investindo Futures, Ariston Tjendra on Tuesday.
Tjendra added that the Asian and European demand slowdown has indicated a contraction of manufacturing activity and rising unemployment numbers. The global economic outlook is uncertain.
He further said that the US dollar has rebounded against major world currencies, showcasing the risk of aversion once again overshadowing the European markets.
"Spain is still the focus of attention of the global financial markets. Although the market accepted the budget plan to reduce the budget deficit, it is still worried about Spain's ability to finance its economy without 'bailout' assistance," he said.(IGT)
COPYRIGHT © ANTARA News Bali 2012
The currency's exchange rate in Jakarta inter-bank's transaction weakened by 10 points to Rp9.575 per US dollar from the previous mark of Rp9.565 per US dollar.
"The global economic slowdown is still driving market players to enter more secure instruments such as the US dollars currency," said the research head of Monex Investindo Futures, Ariston Tjendra on Tuesday.
Tjendra added that the Asian and European demand slowdown has indicated a contraction of manufacturing activity and rising unemployment numbers. The global economic outlook is uncertain.
He further said that the US dollar has rebounded against major world currencies, showcasing the risk of aversion once again overshadowing the European markets.
"Spain is still the focus of attention of the global financial markets. Although the market accepted the budget plan to reduce the budget deficit, it is still worried about Spain's ability to finance its economy without 'bailout' assistance," he said.(IGT)
Editor : Masuki
COPYRIGHT © ANTARA News Bali 2012