Rupiah strengthens to 12,161 per do

Rupiah strengthens to 12,161
per dollar
The rupiah traded among banks in Jakarta on Thursday morning strengthened by 14 points to Rp 12,161 per US dollar from Rp 12,175.
Samuel Sekuritas economist Rangga Cipta said in Jakarta on Thursday that US jobless claims that had risen to the highest level during the last three months had forced the dollar down.
“The weakness in the US economic data will continue to undermine the dollar in Asia. US jobless claims increased to 331,000 from 292,000,” he said as quoted by Antara news agency in Jakarta on Thursday.
The analyst added that data on US consumer confidence and sales surveys had shown decreases leading to further negative sentiment against the US dollar.
Nevertheless, Rangga said, the rupiah would be still held back by increases in demand for US dollars in the domestic market, which tended to increase at the end of the month.
Meanwhile, Woori Korindo Securities Indonesia head of research Reza Priyambada said it was probable the rupiah would strengthen along with the euro following the release of a report that Germany had escaped a technical recession, which could have a positive impact on other European countries.
“This could lead to optimism on exports to European industrial countries, especially big countries such as Germany,” said Reza. (ebf)