The Indonesian rupiah climbed against the US dollar today. Market analysts explained the rally by falling prices for crude oil.
Specialists explained that falling prices for crude reduce inflationary pressure. The strengthening currency can also allow Indonesia’s central bank to keep interest rates unchanged at the policy meeting on Thursday. The weakness of the dollar itself also helped the rupiah to gain against the US currency.
USD/IDR declined 0.43% to 14,438.8 as of 12:08 GMT today.
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