ID :
57020
Thu, 04/23/2009 - 12:45
Auther :
Shortlink :
https://www.oananews.org//node/57020
The shortlink copeid
RUPIAH WEAKENS ON NEGATIVE INTERNAL ISSUE
Jakarta, April 23 (ANTARA) - The rupiah weakened to nearly Rp11,000 per US dollar in the Jakarta interbank spot market early Thursday as the local currency was under pressure due to negative internal issues although the greenback weakened against the euro.
The rupiah also dropped following high demand for the US dollar from state enterprises to settle their maturing debts, Rully Nova, a foreign exchange analyst of PT Bank Himpunan Saudara Tbk said here on Thursday.
The Indonesian currency traded at Rp10,890/11,900 per US dollar, down 10 points from Rp10,880/10,890 per US dollar at the market's close a day earlier.
According to Nova, the rupiah has been falling since Monday due to the heating up the political atmosphere in the country.
The failed coalition talks between the Golkar Party and the Democratic Party made investors worried about future developments in Indonesia, he said.
The Democratic Party must find a vice presidential candidate for the party's advisory board chairman, Susilo Bambang Yudhoyono, whom the party has renominated for the presidency, he said.
The political stalemate would affect the country's development in the future because the would-be vice president-elect must first be able to adjust himself, he said.
The rupiah actually still had a chance to strengthen as the US dollar had weakened against the euro, he said. However, the external issue was overshadowed by the negative political development at home, he added.
Meanwhile, Indonesian stock trading continued to advance, with transactions reaching a total value of more than Rp6 trillion, he said.
The government must be able to defuse the political tensions so that foreign investors who have invested their funds in the country could feel secure and comfortable while doing business here, he said.
"We are optimistic the government will make the appropriate approaches to overcome the problems," he said.
The rupiah also dropped following high demand for the US dollar from state enterprises to settle their maturing debts, Rully Nova, a foreign exchange analyst of PT Bank Himpunan Saudara Tbk said here on Thursday.
The Indonesian currency traded at Rp10,890/11,900 per US dollar, down 10 points from Rp10,880/10,890 per US dollar at the market's close a day earlier.
According to Nova, the rupiah has been falling since Monday due to the heating up the political atmosphere in the country.
The failed coalition talks between the Golkar Party and the Democratic Party made investors worried about future developments in Indonesia, he said.
The Democratic Party must find a vice presidential candidate for the party's advisory board chairman, Susilo Bambang Yudhoyono, whom the party has renominated for the presidency, he said.
The political stalemate would affect the country's development in the future because the would-be vice president-elect must first be able to adjust himself, he said.
The rupiah actually still had a chance to strengthen as the US dollar had weakened against the euro, he said. However, the external issue was overshadowed by the negative political development at home, he added.
Meanwhile, Indonesian stock trading continued to advance, with transactions reaching a total value of more than Rp6 trillion, he said.
The government must be able to defuse the political tensions so that foreign investors who have invested their funds in the country could feel secure and comfortable while doing business here, he said.
"We are optimistic the government will make the appropriate approaches to overcome the problems," he said.
