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JAKARTA (JP): The rupiah is not likely to weaken much in the run up to the Aug. 7 through Aug. 18 People's Consultative Assembly (MPR) General Session as some have feared, according to an economist at a state bank.
Bank Mandiri chief economist Martin Panggabean said on Friday that the current weakening of the rupiah was only temporary as the country's economic fundamentals had improved.
He also said that the move by Bank Indonesia to curb speculation on the rupiah would also help limit the impact of political instability on the local currency.
"The pressure on the rupiah is only temporary ... and especially if Bank Indonesia succeeds in curbing …