ID :
54414
Wed, 04/08/2009 - 13:19
Auther :
Shortlink :
https://www.oananews.org//node/54414
The shortlink copeid
RUPIAH WEAKENS 75 POINTS EARLY WEDNESDAY
Jakarta, April 8 (ANTARA) - The rupiah weakened 75 points against the US dollar in the Jakarta interbank spot market early Wednesday as market players released the local currency.
The Indonesian currency traded at Rp11,425/11,445 per US dollar, down 75 points from Rp11,350/11,400 at the market's close a day earlier.
The rupiah was under pressure as market players released the local unit in profit-taking moves, Rully Nova, a foreign currency analyst of PT Bank Himpunan Saudara Tbk., said here on Wednesday.
The Indonesian unit had tended to fluctuate often this year but it had remained in a position still below the level of Rp11,500 per US dollar, he said.
One of the factors causing the rupiah's fluctuations was the tendency of investors to put their funds in the stock market to get bigger gains, he said.
The rupiah still had a chance to strengthen if the Indonesian government issued bonds in Japan, he said.
The Indonesian bonds to be issued in Japan were expected to get a favorable market response and enable the Indonesian government to meet its financing needs, he said.
He also believed that Bank Indonesia would continue to watch over the domestic money market to monitor the movements of the rupiah and intervene in the market if necessary.
The Indonesian currency traded at Rp11,425/11,445 per US dollar, down 75 points from Rp11,350/11,400 at the market's close a day earlier.
The rupiah was under pressure as market players released the local unit in profit-taking moves, Rully Nova, a foreign currency analyst of PT Bank Himpunan Saudara Tbk., said here on Wednesday.
The Indonesian unit had tended to fluctuate often this year but it had remained in a position still below the level of Rp11,500 per US dollar, he said.
One of the factors causing the rupiah's fluctuations was the tendency of investors to put their funds in the stock market to get bigger gains, he said.
The rupiah still had a chance to strengthen if the Indonesian government issued bonds in Japan, he said.
The Indonesian bonds to be issued in Japan were expected to get a favorable market response and enable the Indonesian government to meet its financing needs, he said.
He also believed that Bank Indonesia would continue to watch over the domestic money market to monitor the movements of the rupiah and intervene in the market if necessary.
