ID :
36323
Thu, 12/18/2008 - 16:54
Auther :
Shortlink :
https://www.oananews.org//node/36323
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RUPIAH ADVANCES 50 POINTS EARLY THURSDAY
Jakarta, Dec. 18 (ANTARA) - The rupiah advanced against the US dollar in the Jakarta interbank spot market on Thursday morning, on continuous positive sentiments.
The rupiah was trading at Rp10,900/11,050 per US dollar, up 50 points from Rp10,950/Rp11,050 in the market closing a day earlier.
The Indonesian currency strengthened because the US dollar was down in the global market following the Federal Reserve's decision to cut its interest rate to almost zero percent, Farial Anwar, a money market observer, said here on Thursday.
The Euro went up to 1.4404 per US dollar from 1.4018 per dollar late Tuesday. The Euro's advance was also supported by the indication of the European Central Bank (ECB) to maintain its interest rate at 2.5 percent, he said.
The greenback traded 87.95 yen from 88.98 yen earlier. South Korea's won was trading at 1,307.75 to the U.S. dollar early Thursday, up 17.25 won from Wednesday's close.
"The policy of the Fed to lower its rate has triggered market players to buy other currencies, which negatively affected the US dollar movement," he said.
The US dollar release also reflected that market did believe that the US central bank could manage the risks, he said.
He predicted that the rupiah would gain further as the demand for the greenback started to go down.
The rupiah was trading at Rp10,900/11,050 per US dollar, up 50 points from Rp10,950/Rp11,050 in the market closing a day earlier.
The Indonesian currency strengthened because the US dollar was down in the global market following the Federal Reserve's decision to cut its interest rate to almost zero percent, Farial Anwar, a money market observer, said here on Thursday.
The Euro went up to 1.4404 per US dollar from 1.4018 per dollar late Tuesday. The Euro's advance was also supported by the indication of the European Central Bank (ECB) to maintain its interest rate at 2.5 percent, he said.
The greenback traded 87.95 yen from 88.98 yen earlier. South Korea's won was trading at 1,307.75 to the U.S. dollar early Thursday, up 17.25 won from Wednesday's close.
"The policy of the Fed to lower its rate has triggered market players to buy other currencies, which negatively affected the US dollar movement," he said.
The US dollar release also reflected that market did believe that the US central bank could manage the risks, he said.
He predicted that the rupiah would gain further as the demand for the greenback started to go down.
