ID :
45016
Tue, 02/10/2009 - 16:35
Auther :
Shortlink :
https://www.oananews.org//node/45016
The shortlink copeid
RUPIAH FALLS 125 POINTS AGAINST US DOLLAR EARLY TUESDAY
Jakarta, Feb. 10 (ANTARA) - The rupiah sharply fell against the US dollar in the Jakarta interbank spot market early Tuesday as greenback purchases continued.
The Indonesian currency traded at Rp11,775/11,815 per US dollar, down 125 points from Rp11,650/11,700 at the market's clsoe on Monday.
Kostaman Thayib, PT Bank Mega's retail banking director, said here on Tuesday, market pressures on the local currency were mainly due to the slowdown in global economic growth.
The market's negative sentiment had grown causing the rupiah to approach the level of Rp12,000 per US dollar, he said.
According to him, market pressures were also due to a decrease in US dollar supply in the market,as foreign investors preferred to take the greenback to their home countries which needed fresh funds to boost their own economic growth.
"We predict that in the first semester of 2009 the rupiah will continue to tumble but improve in the second semester this year," he said.
However, despite the pressures, Bank Indonesia (BI) would only monitor the domestic money market and tightly supervise the foreign exchange dealings of foreign banks, he said.
The Indonesian currency traded at Rp11,775/11,815 per US dollar, down 125 points from Rp11,650/11,700 at the market's clsoe on Monday.
Kostaman Thayib, PT Bank Mega's retail banking director, said here on Tuesday, market pressures on the local currency were mainly due to the slowdown in global economic growth.
The market's negative sentiment had grown causing the rupiah to approach the level of Rp12,000 per US dollar, he said.
According to him, market pressures were also due to a decrease in US dollar supply in the market,as foreign investors preferred to take the greenback to their home countries which needed fresh funds to boost their own economic growth.
"We predict that in the first semester of 2009 the rupiah will continue to tumble but improve in the second semester this year," he said.
However, despite the pressures, Bank Indonesia (BI) would only monitor the domestic money market and tightly supervise the foreign exchange dealings of foreign banks, he said.
