ID :
53273
Wed, 04/01/2009 - 09:40
Auther :
Shortlink :
https://www.oananews.org//node/53273
The shortlink copeid
RUPIAH STRENGTHENS SLIGHTLY LATE TUESDAY
Jakarta, March 31 (ANTARA) - The rupiah strengthened slightly at Rp11,715/11,735 per dollar in the Jakarta interbank spot market late Tuesday compared to Rp11,720/11,745 per dollar the day before.
Trading in the domestic money market ran as usual without any factor that could prop up the two currencies, money market observer Edwin Sinaga said on Tuesday.
Consequently, the rupiah strengthened 5 points against the US greenback, he said.
The peaceful campaign rallies over the past few weeks that could shore up investors' confidence in the domestic market still could not prop up the rupiah's exchange rate against the dollar, he said.
Investors seemed to be rather careful in making transactions over uncertainties about the regional stock exchange due to the weakening of the Wall Street index overnight, he said.
Asked to comment on the Indonesian currency which strengthened 180 points against the dollar in the morning trading, he said it was something normal.
He predicted that the rupiah would weaken to nearly Rp12,000 per dollar in the days ahead due to the absence of positive sentiments following the issuance of the US bonds.
The rupiah strengthened at Rp11,430 per dollar shortly after the US issued the bonds, he said.
But he added that the rupiah still had a great chance to move closer to Rp11,500 per dollar, the more so because Bank Indonesia (the central bank) would obtain additional foreign exchange reserves from the Asian Forum.
Trading in the domestic money market ran as usual without any factor that could prop up the two currencies, money market observer Edwin Sinaga said on Tuesday.
Consequently, the rupiah strengthened 5 points against the US greenback, he said.
The peaceful campaign rallies over the past few weeks that could shore up investors' confidence in the domestic market still could not prop up the rupiah's exchange rate against the dollar, he said.
Investors seemed to be rather careful in making transactions over uncertainties about the regional stock exchange due to the weakening of the Wall Street index overnight, he said.
Asked to comment on the Indonesian currency which strengthened 180 points against the dollar in the morning trading, he said it was something normal.
He predicted that the rupiah would weaken to nearly Rp12,000 per dollar in the days ahead due to the absence of positive sentiments following the issuance of the US bonds.
The rupiah strengthened at Rp11,430 per dollar shortly after the US issued the bonds, he said.
But he added that the rupiah still had a great chance to move closer to Rp11,500 per dollar, the more so because Bank Indonesia (the central bank) would obtain additional foreign exchange reserves from the Asian Forum.
