ID :
67762
Thu, 06/25/2009 - 21:12
Auther :
Shortlink :
https://www.oananews.org//node/67762
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RUPIAH GAINS 110 POINTS THURSDAY AFTERNOON
Jakarta, June 25 (ANTARA) - The rupiah strengthened against the US dollar in the Jakarta interbank spot market here on Thursday afternoon as investors released the greenback.
The Indonesian currency traded at Rp10,280-Rp10,290 per US dollar, up 110 points from Rp10,390-Rp10,400 at the market's close a day earlier.
Edwin Sinaga, president director of PT Finan Corpindo Nusa, said the rupiah surged because investors took profit from the rupiah's rallies over the past few days.
The rupiah climbed because of investors' profit taking moves, he said.
Meanwhile, Fauzi Ikhsan, a senior economic analyst of Global Research of Standard Chartered Bank, predicted that the rupiah would climb to the level of Rp9,500 per US dollar, and the annual average would reach Rp10,325 per US dollar.
According to him, the US dollar would be under pressure because the greenback injections in large amount into the US administration to bill out the losses due to the financial crisis, he said.
"At least two trillion US dollar have been injected, for sure it could make the US dollar fall," he said.
According to him, the rupiah in Indonesia is very much affected by the capital market. While, the Indonesian capital market is affected by regional stock marktets, particularly the US, he said.
"The weakening of the US capital market have affected investors at the Indonesian capital market to withdraw their funds, so that hot money went out from Indonesia, causing the rupiah to weaken, but it's just temporary," he said.
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The Indonesian currency traded at Rp10,280-Rp10,290 per US dollar, up 110 points from Rp10,390-Rp10,400 at the market's close a day earlier.
Edwin Sinaga, president director of PT Finan Corpindo Nusa, said the rupiah surged because investors took profit from the rupiah's rallies over the past few days.
The rupiah climbed because of investors' profit taking moves, he said.
Meanwhile, Fauzi Ikhsan, a senior economic analyst of Global Research of Standard Chartered Bank, predicted that the rupiah would climb to the level of Rp9,500 per US dollar, and the annual average would reach Rp10,325 per US dollar.
According to him, the US dollar would be under pressure because the greenback injections in large amount into the US administration to bill out the losses due to the financial crisis, he said.
"At least two trillion US dollar have been injected, for sure it could make the US dollar fall," he said.
According to him, the rupiah in Indonesia is very much affected by the capital market. While, the Indonesian capital market is affected by regional stock marktets, particularly the US, he said.
"The weakening of the US capital market have affected investors at the Indonesian capital market to withdraw their funds, so that hot money went out from Indonesia, causing the rupiah to weaken, but it's just temporary," he said.
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