ID :
43319
Fri, 01/30/2009 - 16:16
Auther :
Shortlink :
https://www.oananews.org//node/43319
The shortlink copeid
RUPIAH DOWN 40 POINTS EARLY FRIDAY
Jakarta, Jan. 30 (ANTARA) - The rupiah tumbled against the US dollar in the Jakarta interbank spot market on Friday morning on indications the global economic crisis was worsening.
The Indonesian currency traded at Rp11,350/11.375 per US dollar, down 40 points from Rp11,310/11,330 at the market's close a day earlier.
The domestic money market during the week had tended to remain negative towards the local currency as the national economy was being impacted by the slowdown in global economic growth, Edwin Sinaga, a money market observer, said here on Friday.
The sluggish growth of the national economy was reflected in a significant decrease in Indonesia's exports in January 2009.
"We are worried that the rupiah may weaken further because the market's sentiment is still negative," he said.
However, he considered the position of the Indonesian currency at Rp11,350 as not yet worrying as it was still well below the level of Rp12,000 per US dollar.
Therefore, Bank Indonesia (BI) was expected only to monitor and supervise foreign banks' foreign currency dealings, he said.
He predicted the central bank would not intervene in the money market (release US dollars) except if the rupiah was approaching the level of Rp12,000 per US dollar.
The Indonesian currency traded at Rp11,350/11.375 per US dollar, down 40 points from Rp11,310/11,330 at the market's close a day earlier.
The domestic money market during the week had tended to remain negative towards the local currency as the national economy was being impacted by the slowdown in global economic growth, Edwin Sinaga, a money market observer, said here on Friday.
The sluggish growth of the national economy was reflected in a significant decrease in Indonesia's exports in January 2009.
"We are worried that the rupiah may weaken further because the market's sentiment is still negative," he said.
However, he considered the position of the Indonesian currency at Rp11,350 as not yet worrying as it was still well below the level of Rp12,000 per US dollar.
Therefore, Bank Indonesia (BI) was expected only to monitor and supervise foreign banks' foreign currency dealings, he said.
He predicted the central bank would not intervene in the money market (release US dollars) except if the rupiah was approaching the level of Rp12,000 per US dollar.
