ID :
15556
Mon, 08/11/2008 - 19:44
Auther :
Shortlink :
https://www.oananews.org//node/15556
The shortlink copeid
RUPIAH SLIGHTLY FALLS LATE MONDAY
Jakarta, Aug 11 (ANTARA) - The rupiah fell 4 points to Rp9,169/9,175 per dollar in the Jakarta interbank spot market late Monday from Rp9,1965/9,170 per dollar at the weekend.
The rupiah fell slightly after Bank Indonesia (the central banl/BI) intervened in the market to support the Indonesian currency's movement, Kostaman Thayib, retail banking director of PT Bank Mega Tbk, said.
BI's effort to release funds from its foreign exchange reserves gave positive sentiments to the local unit so that it did not plunge too far against the dollar, he said.
BI intervened in the market for fear the rupiah would worsen again to Rp9,300 per dollar, he said.
Demand for the US greenback was on the increase as local companies needed a great deal of dollars to repay their maturing debts, he said.
The rupiah traded at Rp9,200 and further Rp9,220 per dollar earlier in the day due to rising demand for the dollar following its appreciation in the global market, he said.
The rush for the dollar continued after global crude prices fell to US$115 a barrel, he said.
He expressed optimism the rupiah would strengthen again due in part to an inflow of foreign capital, he said.
BI had earlier raised its benchmark interest rate by 25 basis points to 9.00 percent from 8.75 percent to deal with the rising global influence on the domestic market.
The high spread between the rupiah and dollar interest rates would continue to attract foreign investment, he said.
The rupiah fell slightly after Bank Indonesia (the central banl/BI) intervened in the market to support the Indonesian currency's movement, Kostaman Thayib, retail banking director of PT Bank Mega Tbk, said.
BI's effort to release funds from its foreign exchange reserves gave positive sentiments to the local unit so that it did not plunge too far against the dollar, he said.
BI intervened in the market for fear the rupiah would worsen again to Rp9,300 per dollar, he said.
Demand for the US greenback was on the increase as local companies needed a great deal of dollars to repay their maturing debts, he said.
The rupiah traded at Rp9,200 and further Rp9,220 per dollar earlier in the day due to rising demand for the dollar following its appreciation in the global market, he said.
The rush for the dollar continued after global crude prices fell to US$115 a barrel, he said.
He expressed optimism the rupiah would strengthen again due in part to an inflow of foreign capital, he said.
BI had earlier raised its benchmark interest rate by 25 basis points to 9.00 percent from 8.75 percent to deal with the rising global influence on the domestic market.
The high spread between the rupiah and dollar interest rates would continue to attract foreign investment, he said.
