ID :
68734
Thu, 07/02/2009 - 19:12
Auther :
Shortlink :
https://www.oananews.org//node/68734
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RUPIAH STABLE AGAINST DOLLAR ON THURSDAY AFTERNOON
Jakarta, July 2 (ANTARA) - The rupiah was stable against the US dollar at the Jakarta interbank spot market here on Thursday afternoon, as the supply and demand of the local currency was balanced, despite the emergence of a positive issue in the domestic market.
The Indonesian currency traded at Rp10,180-Rp10,195 per US dollar.
Investors refrained themselves as they were waiting for a decision of Bank Indonesia (BI, the central bank) to lower its BI Rate following a report from the Central Bureau of Statics (BPS) on the annual inflation rate which sharply decreased to 3.64 percent from 6.04 percent, Edwin Sinaga, a domestic money market observer, said.
The annual inflation fall gave a space for BI to lower its BI Rate, which was expected to encourage banking sector to also cut its saving and credit interest rates, he said.
Banks offered credit interests at between 14 and 18 percent, which was quite high and discouraged people to ask for credits to banks, Sinaga said.
He predicted that the rupiah would be at a range between Rp10,000 and Rp10,200 per US dollar this week with varied fluctuation.
However, if the implementation of the presidential election scheduled for July 8, 2009, would run smoothly and peacefully, the local currency might reach the level of below Rp10,000 per US dollar, he said.
Meanwhile, on Thursday morning, the rupiah had strengthened to nearly Rp10,100 per US dollar, as investors purchased the local currency following a positive report issued by the Central Bureau of Statistics (BPS).
The Indonesian currency on early Thursday traded at Rp10,135-Rp10,145 per US dollar, up 45 points from Rp10,180-Rp10,195 at the market's close a day earlier.
The rupiah was mainly boosted by a report on positive internal developments issued by BPS, according to Farial Anwar, a domestic money market observer, earlier.
"We are optimistic the rupiah would be able to reach the level of Rp10,000 per US dollar if the present market condition continues," he said. ***
The Indonesian currency traded at Rp10,180-Rp10,195 per US dollar.
Investors refrained themselves as they were waiting for a decision of Bank Indonesia (BI, the central bank) to lower its BI Rate following a report from the Central Bureau of Statics (BPS) on the annual inflation rate which sharply decreased to 3.64 percent from 6.04 percent, Edwin Sinaga, a domestic money market observer, said.
The annual inflation fall gave a space for BI to lower its BI Rate, which was expected to encourage banking sector to also cut its saving and credit interest rates, he said.
Banks offered credit interests at between 14 and 18 percent, which was quite high and discouraged people to ask for credits to banks, Sinaga said.
He predicted that the rupiah would be at a range between Rp10,000 and Rp10,200 per US dollar this week with varied fluctuation.
However, if the implementation of the presidential election scheduled for July 8, 2009, would run smoothly and peacefully, the local currency might reach the level of below Rp10,000 per US dollar, he said.
Meanwhile, on Thursday morning, the rupiah had strengthened to nearly Rp10,100 per US dollar, as investors purchased the local currency following a positive report issued by the Central Bureau of Statistics (BPS).
The Indonesian currency on early Thursday traded at Rp10,135-Rp10,145 per US dollar, up 45 points from Rp10,180-Rp10,195 at the market's close a day earlier.
The rupiah was mainly boosted by a report on positive internal developments issued by BPS, according to Farial Anwar, a domestic money market observer, earlier.
"We are optimistic the rupiah would be able to reach the level of Rp10,000 per US dollar if the present market condition continues," he said. ***
