Rupiah Falls Further 2.3%

JAKARTA (Yosefardi) – Rupiah closed substantially lower by 2.3% to Rp11,438 per USD, Bank Indonesia data revealed.
The mid rate of BI dropped from Rp11180 to Rp11438 on reports that Bank Indonesia tends to allow rupiah’s trading value closer to NDF market, supporting the country’s exports.
Singapore dollar, meanwhile, closed at Rp9017. BI’s selling rate of USD was Rp11,495 and buy at Rp11,381.
Composite index of Indonesia Stock Exchange (IDX), meanwhile, ended off low by 0.2% only despite falling as much as 1.57% 30 minutes into the closing.
Foreign investors continued their net buy position of Rp599 billion Wednesday, cutting further year-to-date net sell to Rp7.77 trillion.