ID :
51510
Fri, 03/20/2009 - 13:18
Auther :
Shortlink :
https://www.oananews.org//node/51510
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RUPIAH GAINS 70 POINTS EARLY FRIDAY
Jakarta, March 20 (ANTARA) - The rupiah continued to advance against the US dollar in the Jakarta interbank spot market here early Friday as there was a continuing capital inflow into the domestic money market despite the lingering global economic crisis.
The Indonesian currency traded at Rp11,820/11,840 per US dollar, up 70 points from Rp11,890/11,900 at the market's close a day earlier.
Indonesia was seen as a potential investment market after China and India despite the global financial crisis, Rully Nova, a foreign currency analyst of PT Bank Himpunan Saudara, said here on Friday.
Moreover, the profits accruing to investors in Indonesia's money market tended to be better than in other countries, he said.
He said the difference between the rupiah's interest rate and the US greenback's was still high, namely over 7 percent, while investors' interest in investing in Indonesia was quite big, especially among Middle East investors, he said.
"We are optimistic the rupiah will strengthen further to the level of nearly Rp11,500 per US dollar, especially if the current market condition continues," he said.
Investors preferred to put their funds in a country which is almost risk-free, safe, and convenient, so that they could feel at home staying in the country, he said.
Therefore, Indonesia which is rich in natural as well as human resources, has great potential to become an even better place for investment, he said.
The foreign capital inflow would bolster the local currency to further strengthen to nearly Rp11,800 per US dollar, he said.
The Indonesian currency might approach the level of Rp11,500 per US dollar in few months to come, if the upcoming general elections could run smoothly and peacefully, he said.
The rupiah jumped 75 points on Thursday afternoon, and traded at Rp11,890/11,910 per US dollar. Early Thursday, the rupiah gained 65 points and traded at Rp11,900/11,950 per US dollar.
The Indonesian currency traded at Rp11,820/11,840 per US dollar, up 70 points from Rp11,890/11,900 at the market's close a day earlier.
Indonesia was seen as a potential investment market after China and India despite the global financial crisis, Rully Nova, a foreign currency analyst of PT Bank Himpunan Saudara, said here on Friday.
Moreover, the profits accruing to investors in Indonesia's money market tended to be better than in other countries, he said.
He said the difference between the rupiah's interest rate and the US greenback's was still high, namely over 7 percent, while investors' interest in investing in Indonesia was quite big, especially among Middle East investors, he said.
"We are optimistic the rupiah will strengthen further to the level of nearly Rp11,500 per US dollar, especially if the current market condition continues," he said.
Investors preferred to put their funds in a country which is almost risk-free, safe, and convenient, so that they could feel at home staying in the country, he said.
Therefore, Indonesia which is rich in natural as well as human resources, has great potential to become an even better place for investment, he said.
The foreign capital inflow would bolster the local currency to further strengthen to nearly Rp11,800 per US dollar, he said.
The Indonesian currency might approach the level of Rp11,500 per US dollar in few months to come, if the upcoming general elections could run smoothly and peacefully, he said.
The rupiah jumped 75 points on Thursday afternoon, and traded at Rp11,890/11,910 per US dollar. Early Thursday, the rupiah gained 65 points and traded at Rp11,900/11,950 per US dollar.
