Rupiah Strengthens Us Dollar

Jakarta (Antara) - Rupiah was traded at Rp12,025 per US dollar in interbank transactions in Jakarta on Monday afternoon as a result of a more favorable political situation in Indonesia. The exchange rate of the currency against the greenback strengthened by 84 points from its earlier rate of Rp12,109. According to Rully Nova, an analyst of Bank Himpunan Saudara, the current favorable political conditions in the country had contributed to the appreciation of rupiah. "The inauguration of President Joko Widodo and Vice President Jusuf Kalla served to boost the confidence of financial market agents who have faith that the new government will execute its development programs with ease," he noted. He further stated: "The current political situation will have positive impacts on the economy of Indonesia in the near future and will also prevent the negative effects of the global economy from influencing it." (*) Reported by Zubi Mahrofi