ID :
52155
Wed, 03/25/2009 - 08:08
Auther :
Shortlink :
https://www.oananews.org//node/52155
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RUPIAH CLOSES HIGHER AT RP11,420 PER DOLLAR LATE TUESDAY
Jakarta, March 24 (ANTARA) - The rupiah closed higher at Rp11,420 against the dollar in the Jakarta interbank spot market late Tuesday as investors bought the local unit in large amounts.
The rupiah rose 130 points to Rp11,420/11,450 per dollar from Monday's close of Rp11,550/11,560 per dollar.
A positive market sentiment to the rupiah remained high although it gained 130 points in the evening trading compared to 190 points in the morning trading, foreign exchange analyst Rully Nova of PT Bank Himpunan Saudara Tbk said on Tuesday.
The rupiah was likely to advance closer to Rp11,000 per dollar in the days ahead but the appreciation was expected not to run too fast, he said.
The faster-than-expected appreciation would make it difficult to control the rupiah and therefore, Bank Indonesia (the central bank/BI) should always stay in the market to monitor its movement, he said.
"We are optimistic that judging by the rupiah's current appreciation BI will intervene in the market," he said.
The Indonesian currency gained 185 points against the dollar in the Jakarta interbank spot market early Tuesday on growing positive sentiments in the domestic money market.
"Among the causes of the positive sentiments was the Bilateral Currency Swap Arrangement signed by Bank Indonesia (BI) and the central bank of China," Edwin Sinaga, president director of Financorpindo Nusa, said here on Tuesday.
BI Governor Boediono and his Chinese counterpart, Zhou Xiaochuan, signed a Bilateral Currency Swap Arrangement (BCSA) worth Rp175 trillion or RMB100 billion in China on Monday.
The swap line could be a positive contribution to an increase of direct trade and investment between the two states, provide short-term liquidity for money market stability, and help Indonesia deal with the tightness of international liquidity.
The rupiah rose 130 points to Rp11,420/11,450 per dollar from Monday's close of Rp11,550/11,560 per dollar.
A positive market sentiment to the rupiah remained high although it gained 130 points in the evening trading compared to 190 points in the morning trading, foreign exchange analyst Rully Nova of PT Bank Himpunan Saudara Tbk said on Tuesday.
The rupiah was likely to advance closer to Rp11,000 per dollar in the days ahead but the appreciation was expected not to run too fast, he said.
The faster-than-expected appreciation would make it difficult to control the rupiah and therefore, Bank Indonesia (the central bank/BI) should always stay in the market to monitor its movement, he said.
"We are optimistic that judging by the rupiah's current appreciation BI will intervene in the market," he said.
The Indonesian currency gained 185 points against the dollar in the Jakarta interbank spot market early Tuesday on growing positive sentiments in the domestic money market.
"Among the causes of the positive sentiments was the Bilateral Currency Swap Arrangement signed by Bank Indonesia (BI) and the central bank of China," Edwin Sinaga, president director of Financorpindo Nusa, said here on Tuesday.
BI Governor Boediono and his Chinese counterpart, Zhou Xiaochuan, signed a Bilateral Currency Swap Arrangement (BCSA) worth Rp175 trillion or RMB100 billion in China on Monday.
The swap line could be a positive contribution to an increase of direct trade and investment between the two states, provide short-term liquidity for money market stability, and help Indonesia deal with the tightness of international liquidity.
