1. Rupiah are sold to buy dollars and other currencies to purchase those imports. 2. Demand for the notes will weigh on the rupiah, as investors sell their rupiah for dollars to buy the notes. 3. International banks then sold the rupiah for dollars. 4. The central bank will continue to buy and sell rupiah in the foreign exchange market in a bid to manage its value. 5. The rupiah also fell as companies sold the rupiah for dollars needed to repay short-term debt. 6. Moena said one way to narrow the foreign exchange trading spread was to curb speculators from buying and selling rupiah. 7. The rush to sell rupiahs started as soon as trading began in Jakarta. |