The local currency traded at Rp 9,135 per dollar in the Jakarta interbank spot market on Tuesday morning, compared to Rp 9,160 the day before.
"The rupiah strengthened, as many speculated that BI would intervene in the market after the rupiah had come under high pressure," money market observer, Rully Nova of Bank Himpunan Saudara, said.
Constant pressure on the rupiah had sent it to a level of Rp 9,100 against the dollar, prompting BI to meddle in the money market to prevent it from weakening further, he added.
"The rupiah comes under persistent pressure because of domestic sentiment to the government's plan to raise fuel oil prices," he said.(IGT)
: Masuki
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