Jakarta (Antara Bali) - Indonesian currency rupiah lost 60 points against the US dollar on Tuesday due to an increase in the import value of fuel oil (BBM).
Rupiah traded at Rp9,810 to the US dollar, weakening from its initial value of Rp9,750.
According to Reza Priyambada, an analyst at Trust Securities, the Indonesian currency became weak because of an increase in fuel consumption, forcing the government to import fuel oil.
"An increase in the import volume of fuel oil has increased the demand for the US dollar. Hence, the exchange rate is higher," he said.
He said Bank Indonesia's (BI) intervention will further weaken the Indonesian currency.
The Head of Research at Monex Investindo, Ariston Tjendra, said economic growth in several European countries and China has not led to the strengthening of the Indonesian currency.(IGT)
COPYRIGHT © ANTARA News Bali 2013
Rupiah traded at Rp9,810 to the US dollar, weakening from its initial value of Rp9,750.
According to Reza Priyambada, an analyst at Trust Securities, the Indonesian currency became weak because of an increase in fuel consumption, forcing the government to import fuel oil.
"An increase in the import volume of fuel oil has increased the demand for the US dollar. Hence, the exchange rate is higher," he said.
He said Bank Indonesia's (BI) intervention will further weaken the Indonesian currency.
The Head of Research at Monex Investindo, Ariston Tjendra, said economic growth in several European countries and China has not led to the strengthening of the Indonesian currency.(IGT)
Editor : Masuki
COPYRIGHT © ANTARA News Bali 2013