JAKARTA (Yosefardi) – The rupiah has strengthened by 0.9% to Rp11,476 against the US Dollar ahead of market close Thursday (March 6), as the dollar weakened against Asian currencies.
The rupiah was traded at range of Rp9,677 to Rp12,281 in the past 62 weeks. Today it moved at range of Rp11,471 to Rp11,586.
Minister of finance Chatib Basri echoed saying the fast appreciation of rupiah might endanger the country’s effort to cut current deficit and import.
Pressures on current account eased off in the past few months because of significant trade surplus booked in last quarter of 2014 and huge amount of debt securities issued by the government.
Rupiah depreciated 12% on average last year, but trade deficit ballooned 143,4% to US$4.06 billion.