May 16 15:25<\/p>\n
Rupiah weakens significantly on Tuesday<\/p>\n
Jakarta (ANTARA News) - The rupiah exchange rate against the US dollar decreased to Rp9,200\/9,210 in the spot market here Tuesday morning, dwindling by 205 points from Rp8,895\/8.900 when the Indonesian currency was traded on Monday.<\/p>\n
\"The market was dominated by significant rupiah`s selling on Tuesday so that the currency continued to become weak,\" Bank Saudara firm`s foreign exchange analyst Yusuf said here Tuesday.<\/p>\n
Yusuf said the selling of the rupiah was attributed to many factors including pros and cons about former president Soeharto`s legal case and the tumbling of stock markets in Asian and European regions.<\/p>\n
Attorney General Abdul Rahman Saleh announced on Friday the corruption charges against Soeharto, who was accused of embezzling some US$419 million and Rp1.3 trillion (YS$150 million) in public money, were being dropped due to the former president`s poor health.<\/p>\n
Human rights activists and anticorruption campaigners, however, flatly rejected the decision.<\/p>\n
Yusuf said the rupiah should have been continually rebound against the greenback since international market still showed a positive sentiment and the weakening of the US dollar against yen and euro.<\/p>\n
Bank Indonesia (BI) or the central bank governor Burhanuddin Abdullah said internal market dynamics and other factors from foreign markets led to the weakening of the rupiah.<\/p>\n
He said the central bank would monitor the rupiah`s dynamics in order to avoid long-term tendency.<\/p>\n
Last Wednesday the rupiah reached a two-year high of Rp8,726 after a gain of 12.7 percent this year. (*)<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/rupiah-weakens-significantly-on-tuesday-1147770480", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }