JAKARTA (Yosefardi) – The rupiah weakened further to Rp12,599 against the US dollar on Monday (Dec 15), lowest since June of 1998.
The market is specifically awaiting The Fed meeting decision on Fed Rate scheduled tomorrow (Dec 16). The positive US economy data released last week also helped the greenback to appreciate over the global currencies.
Meanwhile Bank Indonesia remain maintaining its projection that Fed Funds Rate will start to be lifted by the second quarter of 2015.
BI senior governor deputy Mirza Adityaswara said the rupiah is still competitive at current level while the economy is still comfortable even the rupiah reached Rp13,000 against the US dollar.