ID :
38911
Mon, 01/05/2009 - 14:02
Auther :
Shortlink :
https://www.oananews.org//node/38911
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RUPIAH UP 50 POINTS ON MONDAY MORNING
Jakarta, Jan. 5 (ANTARA) - The rupiah strengthened against the US dollar in the Jakarta interbank spot market on Monday morning, as some market players were still not active in the money market.
The rupiah was trading at RP10,900/RP11,000 per US dollar, up 50 points from Rp10,950/Rp11,000 at the market's close last weekend.
President director of PT Financorpindo Nusa Edwin Sinaga said here on Monday trading activities in the Jakarta money market were still slow as not all market players were active in the market.
Market players just monitored stock price developments from a distance because they still wanted to enjoy the long holiday period, he said.
The opening of trading at the Jakarta stock exchange by President Susilo Bambang Yudhoyono on Monday morning also contributed to the positive sentiment about the Indonesian currency, he said.
He said the local currency was now in a* quite stable position after once plunging to the level of above Rp12,000 per US dollar not so long ago.
He predicted that the rupiah would advance further following the government's decision to boost economic growth to over 4.5 percent with the support of national banks which were expected to provide 22 percent of credits.
"We are optimistic that the rupiah at the market's close (in the afternoon) will gain again thanks to the positive sentiment in the domestic market," he said.
The rupiah was trading at RP10,900/RP11,000 per US dollar, up 50 points from Rp10,950/Rp11,000 at the market's close last weekend.
President director of PT Financorpindo Nusa Edwin Sinaga said here on Monday trading activities in the Jakarta money market were still slow as not all market players were active in the market.
Market players just monitored stock price developments from a distance because they still wanted to enjoy the long holiday period, he said.
The opening of trading at the Jakarta stock exchange by President Susilo Bambang Yudhoyono on Monday morning also contributed to the positive sentiment about the Indonesian currency, he said.
He said the local currency was now in a* quite stable position after once plunging to the level of above Rp12,000 per US dollar not so long ago.
He predicted that the rupiah would advance further following the government's decision to boost economic growth to over 4.5 percent with the support of national banks which were expected to provide 22 percent of credits.
"We are optimistic that the rupiah at the market's close (in the afternoon) will gain again thanks to the positive sentiment in the domestic market," he said.
