Go Finance Reporting in JAKARTA - The rupiah seemed depressed by the weakening euro against the dollar the United States (U.S.). The weakening of the euro is linked to the news of the bailout both to Greeks who have not liquid as well.
Rupiah, according to the middle exchange rate of Bank Indonesia (BI) at the level of parking Rp8.578 per USD, rose when compared with the previous trading period at Rp8.595 per USD.
Meanwhile, according yahoofinance, rupiah at Rp8.617, 5 per USD with a daily trading range in Rp8.587-Rp8.617 per USD. While on the other hand, seem to be rallying above U.S. dollar and other currencies. The euro fell to Rp1, 42 per USD, and the pounds fell 1.6137 per USD.
A stronger U.S. dollar is not separated from the news that blow in Greece. Finance ministers of the European Union (EU) met on June 19 to 20 yesterday to talk about a second bailout for Greece so as not to trigger widespread defaults.
German Chancellor who had previously refused, Greece expects bondholders are willing to do an extension on a voluntary basis with incentives. The meeting will formulate incentives and will set out in EU-led meeting on June 23 to 24 this.
Although the scheme is still complicated, but it seems the EU will approve the bailout plan as requested by the Greeks to prevent a larger financial crisis especially Italians threatened downgrades by Moody's from the current position at Aa2. (GoFinance)
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