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Home  >>   Daily News  >>   Indonesia News  >> Economy  >> Rupiah depreciates to Rp 11,350 per US dollar
NEWS UPDATES Asean Affairs   3 September 2013  
Rupiah depreciates to Rp 11,350 per US dollar

The rupiah exchange rate on Monday afternoon depreciated by 430 points against the US dollar as issues related to the reduction of the US Federal Reserve’s financial stimulus circulated again.

The rupiah traded inter banks in Jakarta on Monday afternoon and weakened to Rp 11,350 per US dollar from Rp 10,920.

“Issues on ‘tapering’ or the reduction of the US financial stimulus have emerged again after its economic growth figures in the second quarter of this year were responded to positively by the markets,” said Monex Investindo Futures’ head of research Ariston Tjendra in Jakarta, on Monday, as quoted by Antara news agency.

He said that unexpectedly, the US gross domestic product had grown at a 2.5 percent annual rate. Moreover, US manufacture data and the consumer sentiment index had been revised up from previous data, he added.

From the domestic side, Ariston said, a series of Indonesia’s economic data released on Monday was seen as negative by the markets so that the rupiah weakened again against the US dollar.

He said Indonesia’s trade deficit had widened for July. Although exports improved by scoring an annual increase of 2.37 percent, imports sharply increased.

“The worsening of the balance of trade and ongoing contractions in manufacturing sector have highlighted the challenges Indonesia’s economy is dealing with,” said Ariston.

Meanwhile, according to Bank Indonesia’s median rate on Monday, the rupiah exchange rate strengthened to Rp 10,922 per US dollar from Rp 10,924.


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ASEAN  ANALYSIS

This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

 


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