Jakarta (Antara Bali) - The rate of Indonesia's rupiah against the US dollar, traded among banks in Jakarta on Wednesday morning, fell to Rp12,336 from Rp12,331 amid a massive strike involving thousands of workers from greater Jakarta areas.
Head of Woori Korindo Securities Indonesia's research division Reza Priyambada said Bank Indonesia attempted to protect rupiah by intervening the currency market.
The currency market players, he said, expected that the Federal Reserve's rate could be increased more quickly, making the US dollar was more interesting for the foreign currency market players.
"The central bank's (BI) intervention and positive sentiments remain needed to enable rupiah to regain its value," he said adding that the US dollar's exchange rate against rupiah tends to get strengthened as a result of the Fed's increased rate.
Meanwhile, Rully Nova, Bank Himpunan Saudara's currency market analyst, said the fall of Indonesia's US dollar reserves from 111.97 billion to 111.14 billion dollar at the end of November 2014 was one of the negative sentiments for rupiah.
The government's decision to increase the subsidized fuel prices that has triggered higher inflation rate has also shadowed the rupiah's value in the future, he said. (WDY)
Rupiah's Rate Against US Dollar On Wednesday
Rabu, 10 Desember 2014 13:15 WIB