ID :
77450
Fri, 08/28/2009 - 21:23
Auther :
Shortlink :
https://www.oananews.org//node/77450
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RUPIAH STRENGTHENS ON PROFIT TAKING MOVES
Jakarta, Aug. 28 (ANTARA) - The rupiah strengthened against the US dollar in the Jakarta interbank spot market here on Friday morning on profit taking moves.
The Indonesian currency traded Rp10,120-Rp10,135 per US dollar, up 20 points from Rp10,140-Rp10,155 per US dollar at the market's close a day earlier.
The local unit surged as local investors released their greenback to take profit after the foreign currency had strengthened over the past few days, Edwin Sinaga, a domestic money market observer, said.
The release of the US greenback was not in a big amount, so that the rupiah's position remained at the level of above Rp10,000 per US dollar, he said.
Foreign investors were still cautious to sell their US dollars in large amount despite the Wall Street gains which also boosted the regional bourses to strengthen, Sinaga, president director of PT Finan Corpindo, said.
He, however, predicted that the Indonesian currency would further move upward in the afternoon trading.
He said the rupiah's depreciation yesterday was just temporary as the local currency was looking for a new balance after the government had set a target of the rupiah's assumption at Rp10,000 per US dollar in 2010.
Kostaman Thayib, banking retail Banking of PT Bank Mega Tbk, predicted that the rupiah's position would be at the level of above Rp10,000 per US dollar this month, due to the absence of incentive at the sluggish domestic market.
The Indonesian currency traded Rp10,120-Rp10,135 per US dollar, up 20 points from Rp10,140-Rp10,155 per US dollar at the market's close a day earlier.
The local unit surged as local investors released their greenback to take profit after the foreign currency had strengthened over the past few days, Edwin Sinaga, a domestic money market observer, said.
The release of the US greenback was not in a big amount, so that the rupiah's position remained at the level of above Rp10,000 per US dollar, he said.
Foreign investors were still cautious to sell their US dollars in large amount despite the Wall Street gains which also boosted the regional bourses to strengthen, Sinaga, president director of PT Finan Corpindo, said.
He, however, predicted that the Indonesian currency would further move upward in the afternoon trading.
He said the rupiah's depreciation yesterday was just temporary as the local currency was looking for a new balance after the government had set a target of the rupiah's assumption at Rp10,000 per US dollar in 2010.
Kostaman Thayib, banking retail Banking of PT Bank Mega Tbk, predicted that the rupiah's position would be at the level of above Rp10,000 per US dollar this month, due to the absence of incentive at the sluggish domestic market.
