ID :
18182
Fri, 09/05/2008 - 20:16
Auther :
Shortlink :
https://www.oananews.org//node/18182
The shortlink copeid
RUPIAH'S FALL NOT CAUSED BY FUNDAMENTAL FACTORS: BI
Jakarta, Sept 5 (ANTARA) - Bank Indonesia (BI) Governor Boediono said on Friday the rupiah is weakening against the US dollar because of a global phenomenon in which the greenback is strengthening against almost all other world currencies.
"So this is a market movement. I think there is no problem when it comes to fundamentals," he said.
The dollar was strengthening against other world currencies as many perceived the US economy would perform better than those of the rest of the world, he said.
The rupiah fell below the psychological threshold of Rp9,300 per dollar in the Jakarta interbank spot market on Friday morning. The rupiah traded at Rp9,326/9,330 per dollar compared to Rp9,208/9,300 per dollar the day before, down Rp117 per dollar.
The BI governor said the rupiah's fall on Friday which was higher than any other countries' constituted a change in the rupiah's appreciation over the past few weeks.
"This is because over the past few weeks the rupiah strengthened at a higher pace than any other currency," he said.
The central bank would always monitor the money market to stabilize the rupiah's exchange rate, he said.
"We will remain in the money market to reduce the money market's volatility," he said.
"So this is a market movement. I think there is no problem when it comes to fundamentals," he said.
The dollar was strengthening against other world currencies as many perceived the US economy would perform better than those of the rest of the world, he said.
The rupiah fell below the psychological threshold of Rp9,300 per dollar in the Jakarta interbank spot market on Friday morning. The rupiah traded at Rp9,326/9,330 per dollar compared to Rp9,208/9,300 per dollar the day before, down Rp117 per dollar.
The BI governor said the rupiah's fall on Friday which was higher than any other countries' constituted a change in the rupiah's appreciation over the past few weeks.
"This is because over the past few weeks the rupiah strengthened at a higher pace than any other currency," he said.
The central bank would always monitor the money market to stabilize the rupiah's exchange rate, he said.
"We will remain in the money market to reduce the money market's volatility," he said.
