ID :
36522
Fri, 12/19/2008 - 17:14
Auther :
Shortlink :
https://www.oananews.org//node/36522
The shortlink copeid
RUPIAH UP 30 POINTS EARLY FRIDAY
Jakarta, Dec. 19 (ANTARA) - The rupiah advanced against the US dollar in the Jakarta interbank spot market on Friday morning as market players again bought the local currency.
The rupiah was trading at Rp10,920/11,000 per US dollar, up 30 points from Rp10,950/11,050 per dollar from the earlier market's close.
Banking Retail Director of PT Bank mega Tbk Kostaman Thayib said here on Friday that the profit taking action by market players triggered the Indonesian currency to strengthen, although not much.
He predicted that the local currency might continue to surge because the market tended to be positive, moreover that the greenback weakened against other Asian currencies.
The Rupiah gained on the U.S. Federal Reserve's decision to cut the rate to a record low.
The U.S. Federal Reserve slashed the key interest rate Tuesday to a range of zero to 0.25 percent, or down 75 percent from 1 percent earlier, marking the lowest level since the central bank began to target it.
He suggested that Bank Indonesia (BI, the central bank) should intervene the market to strengthen the rupiah further.
The position of the rupiah at the level of below Rp11,000 per US dollar over the past consecutive days indicated that the market was still positive towards the movement of the local currency, he said.
The rupiah was trading at Rp10,920/11,000 per US dollar, up 30 points from Rp10,950/11,050 per dollar from the earlier market's close.
Banking Retail Director of PT Bank mega Tbk Kostaman Thayib said here on Friday that the profit taking action by market players triggered the Indonesian currency to strengthen, although not much.
He predicted that the local currency might continue to surge because the market tended to be positive, moreover that the greenback weakened against other Asian currencies.
The Rupiah gained on the U.S. Federal Reserve's decision to cut the rate to a record low.
The U.S. Federal Reserve slashed the key interest rate Tuesday to a range of zero to 0.25 percent, or down 75 percent from 1 percent earlier, marking the lowest level since the central bank began to target it.
He suggested that Bank Indonesia (BI, the central bank) should intervene the market to strengthen the rupiah further.
The position of the rupiah at the level of below Rp11,000 per US dollar over the past consecutive days indicated that the market was still positive towards the movement of the local currency, he said.
