The
rupiah trade among banks in Jakarta on Wednesday afternoon depreciated by 45
points to Rp 11,564 per US dollar from Rp 11,519. "The slowdown in
Indonesia's gross domestic product [GDP] throughout the first quarter of 2014,
released earlier this week, made investors worry about the country's economic
performance, hence a depreciating rupiah," Monex Investindo analyst Futures
Zulfirman Basir said in Jakarta on Wednesday as quoted by Antara news agency.
An
external factor that weakened the rupiah rate was the contraction of the
Chinese services sector, making global investors anxious toward assets in risky
countries, including Indonesia. "China is one of Indonesia's main trade
partners. The slowdown in one of the Chinese economic indicators caused
concerns about Indonesia's trade balance," he said.
In
addition, he said investors in financial markets tended to be wary as they were
waiting for more statements from the US Federal Reserve governor Janet Yellen. "They
are waiting for the statements because they can give an outlook on US monetary
policy," he continued.
Meanwhile,
Bank Indonesia's mid-rate showed the rupiah traded at Rp 11,527 per dollar on
Wednesday, down from Rp 11,511 yesterday. (nfo)
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