ID :
46250
Wed, 02/18/2009 - 15:35
Auther :
Shortlink :
https://www.oananews.org//node/46250
The shortlink copeid
RUPIAH STRENGTHENS EARLY WEDNESDAY
Jakarta, Feb. 18 (ANTARA) - The rupiah strengthened to the level of below Rp12,000 per US dollar in the Jakarta interbank spot market early Wednesday, thanks to the hard work of Bank Indonesia (BI) to maintain the Indonesian currency's stability.
The local currency traded at Rp11,900/11,950 per US dollar, up 75 points from Rp11.975/12,000 per US dollar in the market's close a day earlier.
The rupiah gained thanks to the intervention of BI, the central bank, by releasing its foreign exchange reserves in the domestic money market, President Director of PT Financorpindo Nusa Edwin Sinaga said here on Wednesday.
The market should stay calm in order to protect the rupiah from sliding further, and a huge amount of capital was needed to deal with the rupiah's volatility, he said.
It had been earlier predicted that the rupiah would plunge in the first semester of 2009, however, it was expected not to pass the level of Rp12,000 per US dollar, he said.
BI was expected to stay in the market and make an intervention by releasing its US dollar reserves if the local currency was under pressure, he said.
The central bank hoped that the rupiah would stay at between Rp11,500 and Rp11,800 per US dollar, he said.
The local currency traded at Rp11,900/11,950 per US dollar, up 75 points from Rp11.975/12,000 per US dollar in the market's close a day earlier.
The rupiah gained thanks to the intervention of BI, the central bank, by releasing its foreign exchange reserves in the domestic money market, President Director of PT Financorpindo Nusa Edwin Sinaga said here on Wednesday.
The market should stay calm in order to protect the rupiah from sliding further, and a huge amount of capital was needed to deal with the rupiah's volatility, he said.
It had been earlier predicted that the rupiah would plunge in the first semester of 2009, however, it was expected not to pass the level of Rp12,000 per US dollar, he said.
BI was expected to stay in the market and make an intervention by releasing its US dollar reserves if the local currency was under pressure, he said.
The central bank hoped that the rupiah would stay at between Rp11,500 and Rp11,800 per US dollar, he said.
