ID :
20873
Wed, 09/24/2008 - 00:00
Auther :
Shortlink :
https://www.oananews.org//node/20873
The shortlink copeid
RUPIAH FALLS TO RP9,310 PER DOLLAR LATE TUESDAY
Jakarta, Sept 23 (ANTARA) - The rupiah fell to Rp9,310/9,315 per dollar in the Jakarta interbank spot market late Tuesday as investors rushed for the greenback over worries about the global economic turbulence.
"Investors still rushed for the dollar though the US financial crisis has led to a number of US financial companies going bankrupt," foreign exchange analyst Rully Nova of PT Bank Himpunan Saudara said on Tuesday.
The rupiah fell 20 points to Rp9,310/9,315 per dollar late Tuesday from Rp9,290/9,329 per dollar the day before.
Rully said the Indonesian currency would likely come under pressure in the ensuing days as investors were still worried about the global economic turbulence.
Moreover, the country's inflation rate was still high, prompting Bank Indonesia (the central bank/BI) to raise again its key interest rate, locally known as BI Rate, he said.
Currently, investors did concentrate their attention on the high BI Rate but tended to save their funds by buying the dollar, he said.
The market was rather panic-stricken, the more so because a number of share markers also came under pressure, he said.
Meanwhile, the dollar tumbled against other global major currencies over worries that the US government's plan to inject US$700 billion to take over non-performing loans would burden the US finance.
The euro rose to 1.4677 from 1,4572 per dollar. The dollar also fell against the yen to 106.30 from 107.38.
"Investors still rushed for the dollar though the US financial crisis has led to a number of US financial companies going bankrupt," foreign exchange analyst Rully Nova of PT Bank Himpunan Saudara said on Tuesday.
The rupiah fell 20 points to Rp9,310/9,315 per dollar late Tuesday from Rp9,290/9,329 per dollar the day before.
Rully said the Indonesian currency would likely come under pressure in the ensuing days as investors were still worried about the global economic turbulence.
Moreover, the country's inflation rate was still high, prompting Bank Indonesia (the central bank/BI) to raise again its key interest rate, locally known as BI Rate, he said.
Currently, investors did concentrate their attention on the high BI Rate but tended to save their funds by buying the dollar, he said.
The market was rather panic-stricken, the more so because a number of share markers also came under pressure, he said.
Meanwhile, the dollar tumbled against other global major currencies over worries that the US government's plan to inject US$700 billion to take over non-performing loans would burden the US finance.
The euro rose to 1.4677 from 1,4572 per dollar. The dollar also fell against the yen to 106.30 from 107.38.
