ID :
53728
Fri, 04/03/2009 - 18:36
Auther :
Shortlink :
https://www.oananews.org//node/53728
The shortlink copeid
RUPIAH CONTINUES TO STRENGTHEN EARLY FRIDAY
Jakarta, April 3 (ANTARA) - The rupiah sharply gained against the US dollar in the Jakarta interbank spot market here early Friday as market players were optimistic about Indonesian economic growth.
The rupiah traded at Rp11,370/11,380 per US dollar, up 110 points from Rp11,480/11,490 at the market's close a day earlier.
Various positive factors emerging in the market helped the rupiah to strengthen, Kostaman Thayib, retail banking director of PT Bank Mega tbk., said here on Friday.
"The entry of foreign investors in the capital market and the improvement of the Indonesian economic data boosted the market's confidence," he said.
The rupiah had a big chance to further strengthen to reach the level of Rp11,000 per US dollar in the next few months, he said.
The currency swap agreements between the Indonesian, Chinese as well as Japanese central banks had also helped to boost the local currency's position, he said.
The Central Bureau of Statistics (BPS( report on the March 2009 inflation rate at 0.22 percent showed that the possibility for Bank Indonesia (BI) to cut its interest rate was getting stronger, he said.
"We are optimistic that the rupiah will further strengthen to nearly Rp11,000 per US dollar," he said. ***
The rupiah traded at Rp11,370/11,380 per US dollar, up 110 points from Rp11,480/11,490 at the market's close a day earlier.
Various positive factors emerging in the market helped the rupiah to strengthen, Kostaman Thayib, retail banking director of PT Bank Mega tbk., said here on Friday.
"The entry of foreign investors in the capital market and the improvement of the Indonesian economic data boosted the market's confidence," he said.
The rupiah had a big chance to further strengthen to reach the level of Rp11,000 per US dollar in the next few months, he said.
The currency swap agreements between the Indonesian, Chinese as well as Japanese central banks had also helped to boost the local currency's position, he said.
The Central Bureau of Statistics (BPS( report on the March 2009 inflation rate at 0.22 percent showed that the possibility for Bank Indonesia (BI) to cut its interest rate was getting stronger, he said.
"We are optimistic that the rupiah will further strengthen to nearly Rp11,000 per US dollar," he said. ***
