Rupiah Gains On IMF Revising Global Exconomic Growth Target

Jakarta, April 18 (Antara) - The rupiah gained against the US dollar on Thursday morning on IMF revising down its target for global economic growth. Samuel Sekuritas` economist Lana Soelistianingsih said here on Thursday that rupiah remained stable despite the IMF projection putting the global economic growth at 3.2 percent lower than 3.5 percent earlier projected. Rupiah traded at the level of 9,708 to the US dollar in inter-bank transactions strengthening from 9,716 earlier. The revision indicated the world has yet to struggle for economic recovery despite some progress made , Lana said. IMF`s prediction of Indonesia`s economic growth is set at relatively strong level of 6 percent - 6.3 percent this year on strong domestic demand. "Despite plan to raise the oil fuel prices for private cars, the economic growth target is still within reach," she said. Domestic based sectors, which rely on population growth, are predicted to grow strongly such as construction, trade, transport and communications and banking and services sectors, he said. Trust Securities` analyst Reza Priyambada said Bank Indonesia would raise its benchmark interest rate to offset inflation triggered by oil fuel price hikes.