ID :
41921
Wed, 01/21/2009 - 13:30
Auther :
Shortlink :
https://www.oananews.org//node/41921
The shortlink copeid
RUPIAH SLIGHTLY DOWN ON WEDNESDAY MORNING
Jakarta, Jan. 21 (ANTARA) - The rupiah was slightly down against the US dollar in the Jakarta interbank spot market on Wednesday morning.
The Indonesian currency traded at Rp 11,210/Rp11,250 per US dollar, down 10 points from RP11,200/Rp11,245 per US dollar at the market's close a day earlier.
The rupiah depreciated only slightly thanks to the supervision of Bank Indonesia (BI, the central bank) over the foreign currency dealings of foreign banks in Indonesia to prevent transactions in large amounts of the greenback t, Edwin Sinaga, a money market observer, said.
During the first 30 minutes of trading , the local currency managed to stay at Rp11,200 per US dollar because BI was closely monitoring the movements of the two currencies.
However, the market's negative sentiment against the rupiah was quite high, following a slump in regional markets, he said.
A psychological factor also affected the rupiah as market players preferred to keep the greenback.
The Indonesian currency's position at above Rp11,000 per US dollar was still normal, especially because the rupiah was looking for a new equilibrium, he said.
Sinaga was optimistic that the rupiah still had a big chance to strengthen again given the sound indicators of the national economy.
The Indonesian currency traded at Rp 11,210/Rp11,250 per US dollar, down 10 points from RP11,200/Rp11,245 per US dollar at the market's close a day earlier.
The rupiah depreciated only slightly thanks to the supervision of Bank Indonesia (BI, the central bank) over the foreign currency dealings of foreign banks in Indonesia to prevent transactions in large amounts of the greenback t, Edwin Sinaga, a money market observer, said.
During the first 30 minutes of trading , the local currency managed to stay at Rp11,200 per US dollar because BI was closely monitoring the movements of the two currencies.
However, the market's negative sentiment against the rupiah was quite high, following a slump in regional markets, he said.
A psychological factor also affected the rupiah as market players preferred to keep the greenback.
The Indonesian currency's position at above Rp11,000 per US dollar was still normal, especially because the rupiah was looking for a new equilibrium, he said.
Sinaga was optimistic that the rupiah still had a big chance to strengthen again given the sound indicators of the national economy.
