ID :
37029
Mon, 12/22/2008 - 18:14
Auther :
Shortlink :
https://www.oananews.org//node/37029
The shortlink copeid
RUPIAH NOSEDIVES ON MONDAY AFTERNOON
Jakarta, Dec. 22 (ANTARA) - The rupiah weakened against the US dollar in the Jakarta interbank spot market on Monday afternoon, as market players bought the greenback.
The local currency ended at Rp11,105/11,155 per US dollar, down 185 points from Rp10,920/10,950 per US dollar in the market's close a day earlier.
President Director of PT Financorpindo Nusa Edwin Sinaga said here on Monday that the Indonesian currency nosedived as the demand for the US dollars was still high.
Market players still needed the greenback in a large amount especially in the runup to the year-end holiday season, he said.
Despite some positive issues supporting the economic growth, the rupiah was still under pressure, he said.
Positive issues such as loans from the World Bank, the Asian Development Bank (ADB), a French bank and a British bank, could not help the local currency strengthen, he said.
Bank Indonesia (BI, the central bank) has also predicted that the the inflation rate in December 2008 would be better and it could boost the domestic economic growth, he said.
The rupiah tended to be at a range of between Rp10,900 and Rp11,200 per US dollar, he said.
On Monday morning, the rupiah was traded at Rp10,950/11,020 per US dollar, down 30 points from Rp10,920/10,950 per US dollar in the market closing last weekend.
The local currency ended at Rp11,105/11,155 per US dollar, down 185 points from Rp10,920/10,950 per US dollar in the market's close a day earlier.
President Director of PT Financorpindo Nusa Edwin Sinaga said here on Monday that the Indonesian currency nosedived as the demand for the US dollars was still high.
Market players still needed the greenback in a large amount especially in the runup to the year-end holiday season, he said.
Despite some positive issues supporting the economic growth, the rupiah was still under pressure, he said.
Positive issues such as loans from the World Bank, the Asian Development Bank (ADB), a French bank and a British bank, could not help the local currency strengthen, he said.
Bank Indonesia (BI, the central bank) has also predicted that the the inflation rate in December 2008 would be better and it could boost the domestic economic growth, he said.
The rupiah tended to be at a range of between Rp10,900 and Rp11,200 per US dollar, he said.
On Monday morning, the rupiah was traded at Rp10,950/11,020 per US dollar, down 30 points from Rp10,920/10,950 per US dollar in the market closing last weekend.
