ID :
57860
Tue, 04/28/2009 - 07:51
Auther :
Shortlink :
https://www.oananews.org//node/57860
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RUPIAH TENDS TO BE STABLE EARLY MONDAY
Jakarta, April 27 (ANTARA) - The rupiah tended to be stable against the US dollar in the Jakarta interbank sport market early Monday as investors focused their intention on the April inflation rate expected to be low.
The Indonesian currency traded at Rp10,820/10,830 per US dollar, up five points from Rp10,775/10,780 per US dollar at the market's close last weekend.
The local currency actually had a chance to strengthen further, but the rupiah transaction was relatively small, Kostaman Thayib, banking retail director of PT Bank Mega Tbk, said here on Monday.
He said investors were waiting for the planned announcement on this month's inflation rate to be made by the Bureau of Statistic Center (BPS) this week.
The April inflation rate was expected to be lower than that of last month, given the Indonesian macro economic indicator which tended to be better, he said.
"We are optimistic that the market still waits for further developments on the inflation to be announced by the BPS," he said.
According to him, the rupiah in fact opened 40 points lower to Rp10,820 earlier, but the position did not stay long, thanks to the positive sentiment which boosted the Indonesian currency to strengthen further.
However, he noticed that the gain was not too big enough, because market players wanted to make sure by waiting for the BPS' announcement this week.
Besides, some banks, including BCA, have cut their interest rates of the consumption credits, which is expected to bolster the banking sector to be more active in channeling their credits to clients.
The cooling down political tension in the country also led to foreign investors to stay in the Indonesian domestic market, he said.
Therefore, he was optimistic that the rupiah would reach the level of Rp10,500 per US dollar.
***2***
The Indonesian currency traded at Rp10,820/10,830 per US dollar, up five points from Rp10,775/10,780 per US dollar at the market's close last weekend.
The local currency actually had a chance to strengthen further, but the rupiah transaction was relatively small, Kostaman Thayib, banking retail director of PT Bank Mega Tbk, said here on Monday.
He said investors were waiting for the planned announcement on this month's inflation rate to be made by the Bureau of Statistic Center (BPS) this week.
The April inflation rate was expected to be lower than that of last month, given the Indonesian macro economic indicator which tended to be better, he said.
"We are optimistic that the market still waits for further developments on the inflation to be announced by the BPS," he said.
According to him, the rupiah in fact opened 40 points lower to Rp10,820 earlier, but the position did not stay long, thanks to the positive sentiment which boosted the Indonesian currency to strengthen further.
However, he noticed that the gain was not too big enough, because market players wanted to make sure by waiting for the BPS' announcement this week.
Besides, some banks, including BCA, have cut their interest rates of the consumption credits, which is expected to bolster the banking sector to be more active in channeling their credits to clients.
The cooling down political tension in the country also led to foreign investors to stay in the Indonesian domestic market, he said.
Therefore, he was optimistic that the rupiah would reach the level of Rp10,500 per US dollar.
***2***
