Rupiah Slips 10 Points to Rp13,308/US$

TEMPO.CO, Jakarta – The Bloomberg Dollar Index opened today with the rupiah falling 10 points (0.08 percent) to Rp13,308 per US dollar.

Meanwhile, the Jakarta Interbank Dollar exchange rate (JISDOR) issued by Bank Indonesia (BI) showed a rate of Rp13.320 per US dollar. The JISDOR edged down also by 0.08 percent from yesterday's closing rate of Rp13.309 per US dollar.  

The rupiah also weakened in the spot market. The Garuda currency was traded down by 0.19 percent at Rp13,323 per US dollar as of 10:02 local time.

Yesterday, the rupiah managed to note a start-of the-week climb along with BI's signals of intervention.

Bank Internasional Indonesia economist Myrdal Gunarto said the central bank now has more freedom to control currency movements as money transaction has declined in volume and frequency.

"The central bank played a role in today's rupiah appreciation," he had said yesterday.

However, increasing concern over the Greek bailout resolution keeps the greenback in an upward trend. As the European Union (EU) requires a Greek legislation that includes tax and pension reforms before any talk of new debts, investors grow worry that the financial world will bear witness to Greece's worst scenario played out.

Ahead of the Eid holiday, investors are requested to refrain from trading in bulks. Uncertain external sentiments, Myrdal said, will still pose as a threat for further rupiah depreciation.

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