ID :
44560
Fri, 02/06/2009 - 21:02
Auther :
Shortlink :
https://www.oananews.org//node/44560
The shortlink copeid
RUPIAH STRENGTHENS 35 POINTS AT MARKET`S CLOSE FRIDAY
Jakarta, Feb 6 (ANTARA) - The rupiah strengthened by 35 points in the Jakarta interbank spot market to Rp11,725/Rp11,775 at the market's close on Friday, from Rp11,760/Rp11,780 per US dollar on the previous day.
The Indonesian currency strengthened because market players began to release their dollars after the greenback has firmed up in the last three weeks.
"Market players speculated in selling their US dollars for profit taking, but the speculative selling were done by only a small numbers traders," money market analyst of PT Bank Himpunan Saudara, Rully Nova, said here on Friday.
He said that the rupiah's position was still over Rp11,700 per US dollar. Market players still preferred to keep their money in the US currency, because the speculative selling was not too big.
The rupiah tended to be stable in the Jakarta interbank spot market early Friday, although it advanced in the first minutes of the market opening, but fell on market pressure.
In the morning, the rupiah traded at Rp11,755/11,805 per US dollar, up five points from Rp11,760/11,780 in the market's close a day earlier.
Banking Retail Director of PT Bank Mega Tbk. Kostaman Thayib said the market had been positive toward the rupiah, because market players released the greenback in the domestic money market for profit taking.
When the market opened, the rupiah gained 25 points to Rp11,735 per US dollar, however after 25 minutes of trading, the rupiah fell slightly.
The negative sentiment in the market made the rupiah hard to move up, especially due to a recent report on the Indonesian export growth which significantly dropped.
Investors tended to keep the US dollars over concern on the sluggish Indonesian economic growth.
The global economic crisis was the main factor which pressured the Indonesian export growth as demands for the Indonesian commodities especially from the United States of America and Europe plunged.***
The Indonesian currency strengthened because market players began to release their dollars after the greenback has firmed up in the last three weeks.
"Market players speculated in selling their US dollars for profit taking, but the speculative selling were done by only a small numbers traders," money market analyst of PT Bank Himpunan Saudara, Rully Nova, said here on Friday.
He said that the rupiah's position was still over Rp11,700 per US dollar. Market players still preferred to keep their money in the US currency, because the speculative selling was not too big.
The rupiah tended to be stable in the Jakarta interbank spot market early Friday, although it advanced in the first minutes of the market opening, but fell on market pressure.
In the morning, the rupiah traded at Rp11,755/11,805 per US dollar, up five points from Rp11,760/11,780 in the market's close a day earlier.
Banking Retail Director of PT Bank Mega Tbk. Kostaman Thayib said the market had been positive toward the rupiah, because market players released the greenback in the domestic money market for profit taking.
When the market opened, the rupiah gained 25 points to Rp11,735 per US dollar, however after 25 minutes of trading, the rupiah fell slightly.
The negative sentiment in the market made the rupiah hard to move up, especially due to a recent report on the Indonesian export growth which significantly dropped.
Investors tended to keep the US dollars over concern on the sluggish Indonesian economic growth.
The global economic crisis was the main factor which pressured the Indonesian export growth as demands for the Indonesian commodities especially from the United States of America and Europe plunged.***
