ID :
24965
Thu, 10/16/2008 - 19:39
Auther :
Shortlink :
https://www.oananews.org//node/24965
The shortlink copeid
RUPIAH FALLS CLOSER TO RP9,900 PER DOLLAR LATE THURSDAY
Jakarta, Oct 16 (ANTARA) - The rupiah fell closer to Rp9,900 per dollar in the Jakarta interbank spot market late Thursday as investors rushed to buy dollars on concern that a global economic slowdown will escalate into recession.
The rupiah closed at Rp9,860/9,870 per dollar late Thursday compared to Rp9,772/9,800 per dollar the day before, down 88 points.
Foreign currency analyst Rully Nova of PT Bank Saudara Tbk said the rupiah might hit Rp10,000 per dollar in the next few days due to negative market sentiment toward the Indonesian currency.
Yet, Bank Indonesia (the central bank/BI) would always make every effort to keep the rupiah below Rp10,000 per dollar, he said.
Bank Indonesia would also keep controlling foreign banks feared to take other policies such as buying dollars in large quantities, he said.
"If this happens it is feared the rupiah will plunge further," he said.
He said if the rupiah hit a record low of Rp10,000 per dollar it would continue to be corrected and go farther from the level.
Yet, there was no need to worry about the rupiah's fall as a number of Asian major currencies were also weakening against the dollar owing to the global credit crisis.
The rupiah was weakening against the greenback because of the global credit crisis rather than domestic economic fundamentals, he said.
The rupiah closed at Rp9,860/9,870 per dollar late Thursday compared to Rp9,772/9,800 per dollar the day before, down 88 points.
Foreign currency analyst Rully Nova of PT Bank Saudara Tbk said the rupiah might hit Rp10,000 per dollar in the next few days due to negative market sentiment toward the Indonesian currency.
Yet, Bank Indonesia (the central bank/BI) would always make every effort to keep the rupiah below Rp10,000 per dollar, he said.
Bank Indonesia would also keep controlling foreign banks feared to take other policies such as buying dollars in large quantities, he said.
"If this happens it is feared the rupiah will plunge further," he said.
He said if the rupiah hit a record low of Rp10,000 per dollar it would continue to be corrected and go farther from the level.
Yet, there was no need to worry about the rupiah's fall as a number of Asian major currencies were also weakening against the dollar owing to the global credit crisis.
The rupiah was weakening against the greenback because of the global credit crisis rather than domestic economic fundamentals, he said.
