ID :
56652
Tue, 04/21/2009 - 16:09
Auther :
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https://www.oananews.org//node/56652
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RUPIAH TUMBLES TO RP10,835 PER US DOLLAR
Jakarta, April 21 (ANTARA) - The rupiah tumbled in the Jakarta interbank spot market here early Tuesday as investors released the local currency following the strengthening of the US dollar against a number of world currencies.
The rupiah fell to Rp10,835/10,860 per US dollar, down 125 points from Rp10,710/10,720 at the market's close a day earlier.
Despite the fall, the rupiah maintained its position at the level of below Rp11,000 per US dollar, the Rully Nova, PT Bank Himpunan Saudara Tbk, said here on Tuesday.
He considered the rupiah's depreciation was normal after it reached nearly the level of Rp10,500 per US dollar.
The US dollar gain in the world market also gave negative sentiment toward the domestic money market, especially the local currency, he said.
However, he believed that the pressure would not stay for long thanks to foreign capital inflow particularly from the Middle East.
Rupiah still had a chance to strengthen again and reach the level of Rp10,500 per US dollar because various positive sentiments in the domestic market still supported the local unit, he said.
The rupiah's depreciation early Tuesday was mainly due to profit taking actions, he said.***
The rupiah fell to Rp10,835/10,860 per US dollar, down 125 points from Rp10,710/10,720 at the market's close a day earlier.
Despite the fall, the rupiah maintained its position at the level of below Rp11,000 per US dollar, the Rully Nova, PT Bank Himpunan Saudara Tbk, said here on Tuesday.
He considered the rupiah's depreciation was normal after it reached nearly the level of Rp10,500 per US dollar.
The US dollar gain in the world market also gave negative sentiment toward the domestic money market, especially the local currency, he said.
However, he believed that the pressure would not stay for long thanks to foreign capital inflow particularly from the Middle East.
Rupiah still had a chance to strengthen again and reach the level of Rp10,500 per US dollar because various positive sentiments in the domestic market still supported the local unit, he said.
The rupiah's depreciation early Tuesday was mainly due to profit taking actions, he said.***
