ID :
78239
Thu, 09/03/2009 - 23:18
Auther :
Shortlink :
https://www.oananews.org//node/78239
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RUPIAH STRENGTHENS AGAINST US DOLLAR ON UNCHANGED BI RATE
Jakarta, Sept. 3 (ANTARA) - The rupiah strengthened against the US dollar in the Jakarta interbank spot market here on Thursday afternoon following a decision of Bank Indonesia (BI) to maintain the BI Rate at 6.5 percent.
The Indonesian currency traded at Rp10,105-Rp10,115, down 25 points from Rp10,135-Rp10,145 at the market's close a day earlier.
The BI's decision to maintain the BI rate prompted a positive sentiment for the local unit, Edwin Sinaga, a domestic market observer, said.
The positive sentiment generated by the unchanged BI Rate encouraged investors to release the greenback to take profit from the US dollar's climb over the past few days.
He was optimistic that the Indonesian currency would move upward further to approach the level of nearly Rp10,000 per US dollar.
The BI Board of Governors in a meeting here on Thursday decided to maintain the BI Rate at the level of 6.50 percent,
The BI Board of Governors considered the monetary policy relaxation since December 2008 by cutting the BI rate by 300 basis points to 6.50 percent, was quite conducive for the economic recovery process and banking intermediation, Dyah NK Makhijani, BI director for strategic planning and public relations, said.
The BI Rate at 6.50 percent was also considered consistent with the achievement of the inflation rate target in 2010 at 5 percent plus minus one percent.
The central bank's Board of Governors believed that the momentum for domestic economic improvement was getting stronger.
Various indicators showed that household consumption spending had continued to increase as it was boosted by consumption cost availability and consumers' confidence in future economic prospects.
Earlier in the morning, the local 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.
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The Indonesian currency traded at Rp10,105-Rp10,115, down 25 points from Rp10,135-Rp10,145 at the market's close a day earlier.
The BI's decision to maintain the BI rate prompted a positive sentiment for the local unit, Edwin Sinaga, a domestic market observer, said.
The positive sentiment generated by the unchanged BI Rate encouraged investors to release the greenback to take profit from the US dollar's climb over the past few days.
He was optimistic that the Indonesian currency would move upward further to approach the level of nearly Rp10,000 per US dollar.
The BI Board of Governors in a meeting here on Thursday decided to maintain the BI Rate at the level of 6.50 percent,
The BI Board of Governors considered the monetary policy relaxation since December 2008 by cutting the BI rate by 300 basis points to 6.50 percent, was quite conducive for the economic recovery process and banking intermediation, Dyah NK Makhijani, BI director for strategic planning and public relations, said.
The BI Rate at 6.50 percent was also considered consistent with the achievement of the inflation rate target in 2010 at 5 percent plus minus one percent.
The central bank's Board of Governors believed that the momentum for domestic economic improvement was getting stronger.
Various indicators showed that household consumption spending had continued to increase as it was boosted by consumption cost availability and consumers' confidence in future economic prospects.
Earlier in the morning, the local 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.
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