ID :
70776
Thu, 07/16/2009 - 21:10
Auther :
Shortlink :
https://www.oananews.org//node/70776
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RUPIAH STRENGTHENS AGAINST US DOLLAR EARLY THURSDAY
Jakarta, July 16 (ANTARA) - The rupiah rose against the US dollar at the Jakarta interbank spot market here on Thursday morning, up to the level of Rp10,000 per US dollar, as investors continued to buy the local currency on worries over negative issues from Europe and the US.
The Indonesian currency traded at Rp10,088-Rp10,100 per US dollar, up 19 points from Rp10,107-Rp10,115 per US dollar at the market's close a day earlier.
Edwin Sinaga, a domestic money market observer, said here on Thursday, that various negative issues emerging in the markets caused investors to be cautious in keeping the US dollars further.
Both local and foreign investors tried to release the US greenback because they were worried about negative issues from Europe and the United States which might lower the value of their investments in Europe an the US, he said.
Therefore, according to Edwin Sinaga, the rupiah until the end of this month would continue to be under the level of Rp10,000 per US dollar.
The position of the Indonesian currency below that level was likely also supported by a positive discourse saying that investors would increase their investments in Asia and the Pacific, especially in Indonesia, which its economy grew better after China and India, he said.
The positive discourse, according to him, would contribute a significant positive sentiment to and boost the rupiah to further move upward, he said, adding, however, that it would also depend on the government's preparations for receiving the coming of the foreign investments.
"We are optimistic that the rupiah would be at a better position in the future, as foreign investors have prepared themselves to enter the Asian markets following the slumping of European and US markets," he said.
Despite the positive movement of the local currency, Bank Indonesia (BI, the country's central bank) might still guard the rupiah to prevent it from strengthening to below the level of Rp10,000 per US dollar because the local unit's surged was considered too fast, he said.
The Indonesian currency traded at Rp10,088-Rp10,100 per US dollar, up 19 points from Rp10,107-Rp10,115 per US dollar at the market's close a day earlier.
Edwin Sinaga, a domestic money market observer, said here on Thursday, that various negative issues emerging in the markets caused investors to be cautious in keeping the US dollars further.
Both local and foreign investors tried to release the US greenback because they were worried about negative issues from Europe and the United States which might lower the value of their investments in Europe an the US, he said.
Therefore, according to Edwin Sinaga, the rupiah until the end of this month would continue to be under the level of Rp10,000 per US dollar.
The position of the Indonesian currency below that level was likely also supported by a positive discourse saying that investors would increase their investments in Asia and the Pacific, especially in Indonesia, which its economy grew better after China and India, he said.
The positive discourse, according to him, would contribute a significant positive sentiment to and boost the rupiah to further move upward, he said, adding, however, that it would also depend on the government's preparations for receiving the coming of the foreign investments.
"We are optimistic that the rupiah would be at a better position in the future, as foreign investors have prepared themselves to enter the Asian markets following the slumping of European and US markets," he said.
Despite the positive movement of the local currency, Bank Indonesia (BI, the country's central bank) might still guard the rupiah to prevent it from strengthening to below the level of Rp10,000 per US dollar because the local unit's surged was considered too fast, he said.
