Rupiah Weakens 12 Point On Wednesday

Jakarta, Dec 6 (ANTARA) - The rupiah fell 12 points against the dollar on Wednesday evening on concerns over Indonesia`s trade deficit, an analyst said. The local unit traded at Rp9,600 per dollar in the Jakarta interbank spot market on Wednesday evening against Rp9,588 the day before. "The rupiah`s exchange rate weakened against the dollar in response to Indonesia`s trade deficit," Lana Soelistianingsih of Samuel Sekuritas said. The budget deficit was recorded at Rp51.559 trillion as per November 14, 2012, well below the ceiling of Rp190.1 trillion or 2.23 percent of gross domestic product (GDP), she said. She said government budget had not maximally been used to push economic growth. Until November 14, 2012, government spending fell short of the target. Analyst Reza Priyambada of Trust Securities said a so-called US fiscal cliff still cast a shadow over the rupiah`s movement. "The market is focusing on the fiscal cliff as the end-of-year deadline is drawing nearer, prompting investors to put their money in safe haven assets," he said. Australia`s weak economic data that prompted the Reserve Bank of Australia to cut its reference rate by 25 bps to 3 percent has weakened Asian currencies including the rupiah against the dollar, he said.