REPUBLIKA.CO.ID, JAKARTA - Indonesia's rupiah traded at 12,044 IDR against the US dollar in interbank transactions here on Monday morning as President Joko Widodo took oath.
The currency's exchange rate grew stronger by about 65 points from its earlier 12,109 IDR per US dollar as a result of positive internal and external sentiments, Samuel Sekuritas' economist, Rangga Cipta, stated.
The People's Bank of China's plan to inject liquidity has contributed to the weakening of the US dollar in Asia. China's central bank was expected to pour 32.7 billion IDR worth of US dollars into the market, he affirmed.
Besides that, the rupiah also got stronger as a result of Indonesia's favorable political condition ahead of President Joko Widodo's inauguration. The strengthening of the government bonds and the Jakarta Composite Index of the Indonesian Stock Exchange also contributed to making the rupiah stronger, he pointed out.
Indonesia remained largely peaceful as Joko Widodo took oath on Monday morning.
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