ID :
39301
Wed, 01/07/2009 - 16:14
Auther :
Shortlink :
https://www.oananews.org//node/39301
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RUPIAH STRENGTHENS AGAINST GREENBACK EARLY WEDNESDAY
Jakarta, Jan. 7 (ANTARA) - The rupiah strengthened against the US dollar in the Jakarta interbank spot market on Wednesday morning, following Finance Minister Sri Mulyani's announcement that the country's economic growth in 2008 was still above 6 percent.
The local currency was trading at Rp10,800/Rp10,900 per the US dollar, up 100 points from Rp10,900/Rp11,000 in the market's close a day earlier.
The Indonesian economic growth at above 6 percent was higher than that of other Asian countries, except China and India, and encouraged market players to buy the rupiah rather than the greenback, said president director of PT Financorpindo Nusa Edwin Sinaga here on Wednesday.
Therefore, he considered the rupiah's advance was normal thanks to the sound national economic indicators.
"We are optimistic that the rupiah can move further to the level of nearly Rp10,500 per US dollar, as long as there is no other factor which could hamper the rupiah's gain," he said.
However, he expressed his concern that the recent increase in the world oil price could force the Indonesian government to raise the oil price subsidies.
He was optimistic that the rupiah would be quite stable at below Rp11,000 per US dollar, especially because the central bank, Bank Indonesia (BI) continued to monitor trading in foreign currencies in the domestic market.
The local currency was trading at Rp10,800/Rp10,900 per the US dollar, up 100 points from Rp10,900/Rp11,000 in the market's close a day earlier.
The Indonesian economic growth at above 6 percent was higher than that of other Asian countries, except China and India, and encouraged market players to buy the rupiah rather than the greenback, said president director of PT Financorpindo Nusa Edwin Sinaga here on Wednesday.
Therefore, he considered the rupiah's advance was normal thanks to the sound national economic indicators.
"We are optimistic that the rupiah can move further to the level of nearly Rp10,500 per US dollar, as long as there is no other factor which could hamper the rupiah's gain," he said.
However, he expressed his concern that the recent increase in the world oil price could force the Indonesian government to raise the oil price subsidies.
He was optimistic that the rupiah would be quite stable at below Rp11,000 per US dollar, especially because the central bank, Bank Indonesia (BI) continued to monitor trading in foreign currencies in the domestic market.
