Indonesia’s currency, the rupiah strengthened by 50 points against the US dollar in the Jakarta interbank spot market on Friday as market players began buying the local unit and US stocks rose on data showing better performance of the US economy in the third quarter.
The rupiah`s exchange rate against the dollar strengthened to Rp9.535-Rp9.545 per dollar or by 50 points from Rp9.585-Rp9.595 at the market`s close on Thursday.
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The rupiah`s appreciation was also supported by the Bank Indonesia (BI)`s entry into the market where it released dollars from its foreign exchange reserves on fear the rupiah would sink further.
