REPUBLIKA.CO.ID, JAKARTA - IDR strengthens against USD as China commits to maintain its growth. During interbank transactions in Jakarta on Wednesday morning, the rupiah strengthened 5 points to 9,690 IDR per USD from Rp 9,695.
"China, committed to maintain its growth on anticipating US economic slowdown, triggers the strengthening of Asian currencies, including IDR," an analyst from Trust Securities, Reza Priyambada, said on Wednesday.
He said US economic slowdown was due to the implementation of 85 billion USD in federal budget cuts known as the "sequester". Some analyst also said that USD weakening was caused by market adjustment.
Money market analyst from Bank Himpunan Saudara, Ruly Nova, said IDR strengthening against USD was triggered by the intervention of Bank Indonesia (BI). "BI maintains IDR currency in order to make the fluctuation stable," Nova said.
Nova predicted that the fluctuation this week would be in narrow range with tendency to strengthen.
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