Rupiah Closes at Rp13,510 per USD on Monday Evening  

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  • TEMPO.CO, Jakarta - Rupiah's interbank exchange rate in Jakarta closes at Rp13,510 per US Dollar on Monday, August 3, 2015 - after having initially dipped as low as Rp13,530 per US Dollar earlier in the session.

    An analyst for Bank Himpunan Saudara, Rully Nova, said in Jakarta that Indonesia's inflation rate for the month of July 2015, is still considered normal by market players, which has allowed the Rupiah to end trading in the green on Monday's close.

    "The Rupiah could still resume its' uptrend, especially considering that the inflation figure - which stood at 0,93 percent on July 2015 - is mainly driven by increased consumption. This is positive - increased consumption means that the economy is indeed growing," said Rully.

    Rully hopes that consumption levels continue to increase, which increases the chances for an economic growth in the third quarter (Q3) of 2015, that surpasses growth recorded in Q1 and Q2 of 2015.

    Furthermore, the administration has managed to increased the absroption of the budget in this semester, said Rully, which means that infrastructure projects are foing to get built - thus increasing the prospects of better economic growth.

    "There is still hope for the Indonesian economy, as well as for the Rupiah," said Rully.

    Bank Indonesia (BI) middle rate on Monday stands at Rp13,492 per US Dollar - down from its' previous position at Rp13,481 against the greenback.

    ANTARA