ID :
59367
Thu, 05/07/2009 - 13:00
Auther :
Shortlink :
https://www.oananews.org//node/59367
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RUPIAH TENDS TO BE STABLE EARLY THURSDAY
Jakarta, May 7 (ANTARA) - The rupiah tended to be stable against the US dollar in the Jakarta interbank spot market early Thursday as investors started to be cautious in entering the market.
The Indonesian currency traded within a range between Rp10,400 and Rp10,420 per US dollar.
Rully Nova, foreign currency analyst of PT Bank Himpunan Saudara Tbk. said the position of the rupiah currently was considered stable.
The local unit was estimated to move at the range of Rp10,400 to Rp10,500 per US dollar this month, he said.
He predicted that the rupiah still had a chance to strengthen further, however its present position was considered quite sound after a significant surge recently.
"The rupiah's stable position was to protect the Indonesian currency from advancing further because continuous gains would not be favorable for Indonesian exports," he said.
Investors were likely waiting for the banking's responses to cut credit interest rate following Bank Indonesia's decision to lower its key rate to 7.25 percent from 7.50 percent, he said.
Indonesia's macro economic condition was also sound as the country was still seen as a potential market which was more profitable than other Asian markets, he said.
The Indonesian currency traded within a range between Rp10,400 and Rp10,420 per US dollar.
Rully Nova, foreign currency analyst of PT Bank Himpunan Saudara Tbk. said the position of the rupiah currently was considered stable.
The local unit was estimated to move at the range of Rp10,400 to Rp10,500 per US dollar this month, he said.
He predicted that the rupiah still had a chance to strengthen further, however its present position was considered quite sound after a significant surge recently.
"The rupiah's stable position was to protect the Indonesian currency from advancing further because continuous gains would not be favorable for Indonesian exports," he said.
Investors were likely waiting for the banking's responses to cut credit interest rate following Bank Indonesia's decision to lower its key rate to 7.25 percent from 7.50 percent, he said.
Indonesia's macro economic condition was also sound as the country was still seen as a potential market which was more profitable than other Asian markets, he said.
