ID :
37136
Tue, 12/23/2008 - 14:26
Auther :
Shortlink :
https://www.oananews.org//node/37136
The shortlink copeid
RUPIAH NOSEDIVES EARLY MONDAY
Jakarta, Dec. 23 (ANTARA) - The rupiah nosedived against the US dollar in the Jakarta interbank spot market on Tuesday morning as the demand for the greenback was still high.
The rupiah was trading at Rp11,115/11,175 per US dollar, down 215 points from Rp10,900/11,000 from Monday's close.
The local currency again plunged due to a high demand of the US dollar in the run up to the year-end season, said Rully Nova, a foreign exchange analyst of PT Bank Himpunan Saudara, here on Tuesday.
State companies such as state-oil company Pertamina and state electricity company PLN, also needed the greenback to pay their mature debts, he said.
Despite positive issues that the government got loans from the World Bank, a British bank and a French bank, the rupiah was still under pressure, he said.
"We predict that the pressure on the rupiah will not last for long and the Indonesian currency will advance again, especially because the inflation rate in December 2008 is expected to be fair again," he said.
The government has also done some efforts to strengthen the domestic market and to cut imports, he said.
Last Monday afternoon, 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.
***2***
The rupiah was trading at Rp11,115/11,175 per US dollar, down 215 points from Rp10,900/11,000 from Monday's close.
The local currency again plunged due to a high demand of the US dollar in the run up to the year-end season, said Rully Nova, a foreign exchange analyst of PT Bank Himpunan Saudara, here on Tuesday.
State companies such as state-oil company Pertamina and state electricity company PLN, also needed the greenback to pay their mature debts, he said.
Despite positive issues that the government got loans from the World Bank, a British bank and a French bank, the rupiah was still under pressure, he said.
"We predict that the pressure on the rupiah will not last for long and the Indonesian currency will advance again, especially because the inflation rate in December 2008 is expected to be fair again," he said.
The government has also done some efforts to strengthen the domestic market and to cut imports, he said.
Last Monday afternoon, 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.
***2***
