Rupiah Falls 72 Points to Rp11,073/Dollar

Jakarta (Antara) - The Indonesian rupiah currency fell 72 points from Rp11,001 per dollar last Friday to Rp11,073 per dollar on Monday evening prior to a meeting of the US Federal Open Market Committee (FOMC) later this month. Participants at the FOMC meeting will discuss whether the Fed will move ahead with the financial stimulus or reduce it, said Renny Eka Putri, a money market analyst from state lender Bank Mandiri here on Monday. The uncertainty about the outcome of the FOMC meeting will cause the movement of the rupiah to be flat this week, she said. However, the local currency still has the potential to strengthen against the dollar thanks to positive sentiments in the domestic market, she added. "There are still a lot of positive sentiments, including Bank Indonesia's consistent efforts to safeguard the country's economic performance," she said. The other positive sentiment was increased domestic investment. Renny said domestic investment in the third quarter of 2013 jumped 32 percent to Rp100.5 trillion, from the same period last year. Indonesia has set itself a target of attracting Rp390.3 trillion in investment this year and expected the figure to increase 15 percent next year. She predicted the rupiah would trade at a range of Rp10,800 to Rp11,230 per dollar on Tuesday. (*)