ID :
51923
Tue, 03/24/2009 - 08:22
Auther :
Shortlink :
https://www.oananews.org//node/51923
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RUPIAH'S RALLY CONTINUES TO NEARLY RP11,500 PER DOLLAR
Jakarta, March 23 (ANTARA) - The rupiah significantly jumped to nearly the psychological level of Rp11,500 per US dollar in the Jakarta interbank spot market on Monday afternoon, as market players aggressively bought the local currency.
The Indonesian currency traded at Rp11,590/11,600 per US dollar, up 195 points from Rp11,785/11,790 per dollar at the market's close a day earlier.
The rupiah should have reached the psychological limit after the US Administration issued bonds to boost the US economic growth, but the upward movement had been held back because investors were still worried over the bonds, Rully Nova, a foreign currency analyst of PT Bank Himpunan Saudara Tbk, said here on Monday.
The bond issuance had been predicted to pressure the rupiah to a deep slump, but in fact the rupiah strengthened significantly and approached the level of Rp11,590 per US dollar, he said.
"We are optimistic the rupiah will gain further until it will pass the psychological level of Rp11,500 per US dollar," he said.
The Indonesian currency was also boosted by the bilateral currency swap arrangement worth Rp175 trillion or RMB100 billion signed by Bank Indonesia (BI) and the Chinese central bank.
The swap line was aimed at providing short-term liquidity for the money market stability and helping Indonesia deal with the international liquidity tightness.
The Indonesian currency traded at Rp11,590/11,600 per US dollar, up 195 points from Rp11,785/11,790 per dollar at the market's close a day earlier.
The rupiah should have reached the psychological limit after the US Administration issued bonds to boost the US economic growth, but the upward movement had been held back because investors were still worried over the bonds, Rully Nova, a foreign currency analyst of PT Bank Himpunan Saudara Tbk, said here on Monday.
The bond issuance had been predicted to pressure the rupiah to a deep slump, but in fact the rupiah strengthened significantly and approached the level of Rp11,590 per US dollar, he said.
"We are optimistic the rupiah will gain further until it will pass the psychological level of Rp11,500 per US dollar," he said.
The Indonesian currency was also boosted by the bilateral currency swap arrangement worth Rp175 trillion or RMB100 billion signed by Bank Indonesia (BI) and the Chinese central bank.
The swap line was aimed at providing short-term liquidity for the money market stability and helping Indonesia deal with the international liquidity tightness.
