ID :
13709
Thu, 07/24/2008 - 19:39
Auther :
Shortlink :
https://www.oananews.org//node/13709
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RUPIAH UP 5 POINTS TO RP9,130/9,133 PER DOLLAR THURSDAY EVENING
Jakarta, July 24 (ANTARA) - The rupiah rose five points to Rp9,130/9,133 per dollar in the Jakarta interbank spot market on Thursday evening from Rp9,135/9,142 the day before as investors bought the local unit, a foreign exchange analyst said.
"Investors bought the rupiah following an International Monetary Fund (IMF) statement that the Indonesian economy will continue to grow by more than 6 percent," Rully Nova of PT Bank Himpunan Saudara Tbk said on Thursday.
Earlier, the monetary authorities said the Indonesian economy would slow down in the third quarter of 2008 as a result of the sluggish global economy.
The rupiah strengthened against the dollar in the morning but came under pressure in the afternoon as investors hesitated to continue buying the Indonesian currency, Nova said.
The rupiah rose to Rp9,120 per dollar at 02.30 p.m. and fell to Rp9,136 per dollar at 02.45 p.m., he said.
The Indonesian currency again rose moments before the market closed so that it edged to Rp9,128 per dollar and eventually closed at Rp9,130 per dollar on Thursday evening, he said.
He said the rupiah's exchange rate against the dollar fluctuated as investors were still focusing their attention on global economic growth.
India and China are expected to enjoy high economic growth this year and Indonesia must benefit from their markets to boost its economy, he said.
The rupiah still had a good chance to strengthen to Rp9,100 per dollar, he said, adding, "it is only a matter of time for the rupiah to reach this level.""Judging by the stable market conditions and foreign investors' strong interest in investing in the domestic market, we are optimistic the rupiah will reach Rp9,100 per dollar," he said.
"Investors bought the rupiah following an International Monetary Fund (IMF) statement that the Indonesian economy will continue to grow by more than 6 percent," Rully Nova of PT Bank Himpunan Saudara Tbk said on Thursday.
Earlier, the monetary authorities said the Indonesian economy would slow down in the third quarter of 2008 as a result of the sluggish global economy.
The rupiah strengthened against the dollar in the morning but came under pressure in the afternoon as investors hesitated to continue buying the Indonesian currency, Nova said.
The rupiah rose to Rp9,120 per dollar at 02.30 p.m. and fell to Rp9,136 per dollar at 02.45 p.m., he said.
The Indonesian currency again rose moments before the market closed so that it edged to Rp9,128 per dollar and eventually closed at Rp9,130 per dollar on Thursday evening, he said.
He said the rupiah's exchange rate against the dollar fluctuated as investors were still focusing their attention on global economic growth.
India and China are expected to enjoy high economic growth this year and Indonesia must benefit from their markets to boost its economy, he said.
The rupiah still had a good chance to strengthen to Rp9,100 per dollar, he said, adding, "it is only a matter of time for the rupiah to reach this level.""Judging by the stable market conditions and foreign investors' strong interest in investing in the domestic market, we are optimistic the rupiah will reach Rp9,100 per dollar," he said.
