ID :
57336
Fri, 04/24/2009 - 17:56
Auther :
Shortlink :
https://www.oananews.org//node/57336
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RUPIAH STRENGTHENS TO RP10,810 PER US DOLLAR
Jakarta, April 24 (ANTARA) - The rupiah strengthened by 60 points to Rp10,810/10,820 per US dollar in the Jakarta interbank spot market here on Friday afternoon as investors began to hunt the local currency.
The local unit rose as the political tensions following the breakup between the Golkar Party and the Democratic Party diminished, Rully Noba, a money market analyst of PT Bank Himpunan Saudara Tbk, said here on Friday afternoon.
He believed that the Indonesian currency would further move upward as the US greenback tumbled in Asian markets, following a reported slump in property sales and unhealthy condition of the automotive industry in the US.
Indonesia's better-than-expected economic growth and the foreign capital inflow especially capital from the Middle East, helped the rupiah advance, he said.
The country was also a more potential market than other Asian countries, therefore foreign investors put their money in the domestic market, he said.
Nova was optimistic that the local currency would advance further to the level of Rp10,500 barring major obstacles.
On Friday morning, the Indonesian currency traded at Rp10,785/10,790 per US dollar, up 85 points from Rp10,870/10,880 per US dollar at the market's close a day earlier. ***
The local unit rose as the political tensions following the breakup between the Golkar Party and the Democratic Party diminished, Rully Noba, a money market analyst of PT Bank Himpunan Saudara Tbk, said here on Friday afternoon.
He believed that the Indonesian currency would further move upward as the US greenback tumbled in Asian markets, following a reported slump in property sales and unhealthy condition of the automotive industry in the US.
Indonesia's better-than-expected economic growth and the foreign capital inflow especially capital from the Middle East, helped the rupiah advance, he said.
The country was also a more potential market than other Asian countries, therefore foreign investors put their money in the domestic market, he said.
Nova was optimistic that the local currency would advance further to the level of Rp10,500 barring major obstacles.
On Friday morning, the Indonesian currency traded at Rp10,785/10,790 per US dollar, up 85 points from Rp10,870/10,880 per US dollar at the market's close a day earlier. ***
