May 18 10:37Rupiah fall driven by global factors - Budiono
Jakarta (Antara News
) - The rupiah's fresh slide against the dllar is caused by global factors, given that government policies remain atractive for investment here, Coordinating Minister for the Economy Budiono said.
In early morning trade the rupiah fell to 9,250/9,270 to the dollar,
sharply down from yesterday's level of 8,910/8,920.
"This is a global process from the past several days and we're impacted
by it," Budiono told reporters.
Foreign exchange dealers attributed the rupiah's drop to concerns over
further US interest rate hikes after the overnight release of higher-than-expected US inflation data. (*)