ID :
48126
Fri, 02/27/2009 - 23:03
Auther :
Shortlink :
https://www.oananews.org//node/48126
The shortlink copeid
RUPIAH DOWN 20 POINTS EARLY FRIDAY
Jakarta, Feb. 27 (ANTARA) - The rupiah weakened against the US dollar in the Jakarta interbank spot market on high demand for the US greenback, here early Friday.
The Indonesian currency traded at Rp12,050/12,080 per US dollar, down 20 points from Rp12,030/12,40 per US dollar in the market's close a day earlier.
The local currency slided but not too much, putting it at a level of around Rp12,000 per US dollar, President Director of PT Financorpindo Nusa, said.
It was thank to Bank Indonesia (BI) which stayed in the domestic money market to monitor foreign currencies trading by foreign banks, he said.
BI, the country's central bank, had not intervened in the market so far, although it had received additional foreign exchange reserve funds which could be used to intervene in the money market anytime, he said.
The central bank might only monitor in the domestic money market because rationally the rupiah movement was still normal, he said.
However, the local currency needed to be guarded intensively to prevent it's volatility further, he said.
The rupiah advanced at a level of below Rp12,000 per US dollar after Indonesia received foreign exchange reserve funds from the ASEAN+3 (Japan, China and South Korea).
But the positive sentiment did not last long as the local currency again tumbled to over Rp12,000 per US dollar.
***2***
The Indonesian currency traded at Rp12,050/12,080 per US dollar, down 20 points from Rp12,030/12,40 per US dollar in the market's close a day earlier.
The local currency slided but not too much, putting it at a level of around Rp12,000 per US dollar, President Director of PT Financorpindo Nusa, said.
It was thank to Bank Indonesia (BI) which stayed in the domestic money market to monitor foreign currencies trading by foreign banks, he said.
BI, the country's central bank, had not intervened in the market so far, although it had received additional foreign exchange reserve funds which could be used to intervene in the money market anytime, he said.
The central bank might only monitor in the domestic money market because rationally the rupiah movement was still normal, he said.
However, the local currency needed to be guarded intensively to prevent it's volatility further, he said.
The rupiah advanced at a level of below Rp12,000 per US dollar after Indonesia received foreign exchange reserve funds from the ASEAN+3 (Japan, China and South Korea).
But the positive sentiment did not last long as the local currency again tumbled to over Rp12,000 per US dollar.
***2***
