ID :
36940
Mon, 12/22/2008 - 15:07
Auther :
Shortlink :
https://www.oananews.org//node/36940
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RUPIAH WEAKENS 30 POINTS EARLY MONDAY
Jakarta, Dec. 22 (ANTARA) - The rupiah weakened against the US dollar in the Jakarta Interbank spot market on Monday morning, as market players again bought the greenback for profit taking.
The rupiah was trading at Rp10,950/11,020 per US dollar, down 30 points from Rp10,920/10,950 per US dollar in the market closing over last weekend.
Market players released the local currency and bought the greenback because they considered it was the right time to release the rupiah which had strengthened since last week, Retail Banking Director of PT Bank Mega Tbk. Kostaman Thayib said here on Monday.
"We released the rupiah for profit taking because it had strengthened over the past few days at the level of below Rp11,000 per US dollar," he said.
The rupiah depreciation was normal as market players wanted to get profits in the runup to the year-end holiday season, he said.
The market's activities also slowed down in the runup to the Christmas celebration on December 25, according to him.
"We predict that the rupiah still has a chance to advance again, because the demand for the US dollar is decreasing, and the December 2008 inflation rate is estimated to be fair enough," he said.
"We'll see whether there will be a supporting factor which could help the rupiah to strengthen, moreover that the government has cut the prices of premium and diesel oil in an effort to boost the economic growth," he said.
The rupiah was trading at Rp10,950/11,020 per US dollar, down 30 points from Rp10,920/10,950 per US dollar in the market closing over last weekend.
Market players released the local currency and bought the greenback because they considered it was the right time to release the rupiah which had strengthened since last week, Retail Banking Director of PT Bank Mega Tbk. Kostaman Thayib said here on Monday.
"We released the rupiah for profit taking because it had strengthened over the past few days at the level of below Rp11,000 per US dollar," he said.
The rupiah depreciation was normal as market players wanted to get profits in the runup to the year-end holiday season, he said.
The market's activities also slowed down in the runup to the Christmas celebration on December 25, according to him.
"We predict that the rupiah still has a chance to advance again, because the demand for the US dollar is decreasing, and the December 2008 inflation rate is estimated to be fair enough," he said.
"We'll see whether there will be a supporting factor which could help the rupiah to strengthen, moreover that the government has cut the prices of premium and diesel oil in an effort to boost the economic growth," he said.
