ID :
19279
Fri, 09/12/2008 - 21:30
Auther :
Shortlink :
https://www.oananews.org//node/19279
The shortlink copeid
RUPIAH STRENGTHENS SLIGHTLY LATE FRIDAY
Jakarta, Sept 12 (ANTARA) - The rupiah slightly strengthened against the US dollar in the Jakarta interbank spot market late Friday following Bank Indonesia (the central bank/BI)'s intervention in the money market.
"BI's intervention was merely aimed at preventing the rupiah from falling below Rp9,500 per dollar. But it is still hard for the rupiah to return to a level of below Rp9,400 per dollar," Retail Banking Director of PT Bank Mega Tbk Kostaman Thayib said here Friday.
The rupiah traded at Rp9,435/9,440 per dollar late Friday compared to Rp9,438/9,584 per dollar the day before, up 3 points.
He said the rupiah's continuous depreciation in the past few days was beyond anticipation and BI was likely to adjust to the global market only.
"The upheaval has affected not only Indonesia but also almost all parts of the world due to the subprime mortgage crisis in the US and Europe," he said.
If the local unit continued to fall to Rp9,500 per dollar, it would worry the market, he said.
Therefore, BI would try to stabilize the rupiah's exchange rate so that it would not hit Rp9,500 per dollar, he said.
It was likely BI did not think that the dollar buyups by foreign speculators were getting larger following a rush for the greenback in the past few days, he said.
"BI's intervention was merely aimed at preventing the rupiah from falling below Rp9,500 per dollar. But it is still hard for the rupiah to return to a level of below Rp9,400 per dollar," Retail Banking Director of PT Bank Mega Tbk Kostaman Thayib said here Friday.
The rupiah traded at Rp9,435/9,440 per dollar late Friday compared to Rp9,438/9,584 per dollar the day before, up 3 points.
He said the rupiah's continuous depreciation in the past few days was beyond anticipation and BI was likely to adjust to the global market only.
"The upheaval has affected not only Indonesia but also almost all parts of the world due to the subprime mortgage crisis in the US and Europe," he said.
If the local unit continued to fall to Rp9,500 per dollar, it would worry the market, he said.
Therefore, BI would try to stabilize the rupiah's exchange rate so that it would not hit Rp9,500 per dollar, he said.
It was likely BI did not think that the dollar buyups by foreign speculators were getting larger following a rush for the greenback in the past few days, he said.
