Rupiah will tend to weaken on stronger dollar

JAKARTA: Rupiah potentially weakens today as US dollar rose on investors' concern on European debt issue.BNI Treasury Research Division said in its morning review said that the local currency tends to consolidate and in fact weaken. "Various sentiments
News Editor | 10 Desember 2010 03:33 WIB

JAKARTA: Rupiah potentially weakens today as US dollar rose on investors' concern on European debt issue.BNI Treasury Research Division said in its morning review said that the local currency tends to consolidate and in fact weaken. "Various sentiments influence Jakarta Stock Index (JCI) as its continued rally will lead to profit taking, thus weighing on the index," said the research report. The state lender noted that the local currency was closed lower to IDR9,015 from IDR9,010 in the opening on rising concern on regional and global markets. As investors worry of complexity in European debt issue, it pushes up the greenback against major currencies, affecting the rupiah's movement.The lender suggests to buy USD/IDR at IDR9,010 and sell at IDR9,025 per US dollar. The local currency is expected to move between IDR8,995-IDR9,040. (NOM)

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Editor : Muhammad Fariz Aulia

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