ID :
78181
Thu, 09/03/2009 - 14:08
Auther :
Shortlink :
https://www.oananews.org//node/78181
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RUPIAH WEAKENS AGAINST US DOLLAR
Jakarta, Sept. 3 (ANTARA) - The rupiah weakened against the US dollar in the Jakarta interbank spot market here on Thursday morning as investors released the local currency following a slump in regional markets.
The Indonesian currency traded at Rp10,145-Rp10,160 per US dollar, down 15 points from Rp10,130-Rp10,145 per US dollar at the market's close a day earlier.
The rupiah has fallen since early this week following Wall Street losses, Harry Kurniawan, a domestic money market observer of Pt Makinta Securities, said.
Wall Street stocks plunged following a report on worse-than-expected agricultural sector's salaries, prompting the Dow Jones Industrial Average index went down 29.93 points or 0.32 percent, he said.
The rupiah was also under pressure after the Central Bureau of Statistic (BPS) reported that the 2009 August inflation rate reached 0.56 percent, higher than 0.45 percent a month earlier, he explained.
However, he believed that the rupiah still had a chance to move upward further because Indonesia's economy was still quite potential.
He believed that the Indonesian currency was mainly to the slumping down of the regional money markets.
The rupiah has been under pressure over the past one week, but it still has a chance to strengthen again to the level of below Rp10,000 per US dollar.
Meanwhile, the Composite Stock Price Index (IHSG) at the Indonesian Stock Exchange (BEI) opened slightly higher as investors bought shares in large amount.
The BEI index went up 22.886 points or 0.99 percent to 2,308.715 points and the LQ-45 index surged 1.02 percent or 4.544 points to 448.931 points.
Despite Wall Street losses, investors were encouraged to buy shares because the share prices were rather low following Indonesian stock losses due to regional bourse fall, Alfiansyah, a stock broker of PT Sinarmas Securities, said here on Thursday.
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The Indonesian currency traded at Rp10,145-Rp10,160 per US dollar, down 15 points from Rp10,130-Rp10,145 per US dollar at the market's close a day earlier.
The rupiah has fallen since early this week following Wall Street losses, Harry Kurniawan, a domestic money market observer of Pt Makinta Securities, said.
Wall Street stocks plunged following a report on worse-than-expected agricultural sector's salaries, prompting the Dow Jones Industrial Average index went down 29.93 points or 0.32 percent, he said.
The rupiah was also under pressure after the Central Bureau of Statistic (BPS) reported that the 2009 August inflation rate reached 0.56 percent, higher than 0.45 percent a month earlier, he explained.
However, he believed that the rupiah still had a chance to move upward further because Indonesia's economy was still quite potential.
He believed that the Indonesian currency was mainly to the slumping down of the regional money markets.
The rupiah has been under pressure over the past one week, but it still has a chance to strengthen again to the level of below Rp10,000 per US dollar.
Meanwhile, the Composite Stock Price Index (IHSG) at the Indonesian Stock Exchange (BEI) opened slightly higher as investors bought shares in large amount.
The BEI index went up 22.886 points or 0.99 percent to 2,308.715 points and the LQ-45 index surged 1.02 percent or 4.544 points to 448.931 points.
Despite Wall Street losses, investors were encouraged to buy shares because the share prices were rather low following Indonesian stock losses due to regional bourse fall, Alfiansyah, a stock broker of PT Sinarmas Securities, said here on Thursday.
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