Rupiah appreciates to 11,872 on Friday afternoon

JAKARTA. The rupiah traded among banks in Jakarta on Friday afternoon strengthened by 45 points to 11,872 per US dollar.

"The successful sales of euro-denominated government bonds gives a good sign that foreign investors will continue to invest in Indonesia," Monex Investindo Futures analyst Zulfirman Basir said in Jakarta on Friday.

The government was able to sell 1 billion euros of government bonds with a 2.875 percent interest rate, giving a positive sentiment to the domestic currency.

Externally, he said that the declining global price of crude oil had helped to calm investors down regarding the possibility of Indonesia's deficit in its current account.

"However, the improvement of the rupiah remains limited following the anticipation of US data on its non-farm payroll and unemployment rate," he said.

Meanwhile, Bank Indonesia’s (BI) mid-rate data showed the rupiah was traded at 11,887 per US dollar, up from the previous 11,963 per dollar. (nfo)