ID :
78955
Tue, 09/08/2009 - 09:55
Auther :
Shortlink :
https://www.oananews.org//node/78955
The shortlink copeid
RUPIAH CONTINUES TO CLIMB ON MONDAY AFTERNOON
Jakarta, Sept. 7 (ANTARA) - The rupiah continued to climb against the US dollar in the Jakarta interbank spot market here on Monday afternoon as investors still actively released the greenback.
The local currency rose 60 points to Rp10,050-Rp10,065 per US dollar as regional bourses gained.
Both positive internal and external factors had bolstered the rupiah to strengthen, according to Edwin Sinaga, a domestic money market observer.
The Internal factor was Indonesia's sound economic fundamental while the external factor was Wall Street bourse' rally which positively affected regional and domestic bourses, he said.
Bank Indonesia's decision to maintain its BI Rate at 6.5 percent had encouraged foreign investors to actively trade at the domestic money market by releasing the US dollar and purchased the Indonesian currency.
Sinaga believed that the rupiah could reach the level of Rp10,000 per US dollar if the present market condition continued.
For the time being, the rupiah's position at the level of Rp10,050 was quite good as it was in accordance with the Indonesian macro assumption, which targeted the rupiah's exchange rate at Rp10,000 per US dollar in 2010, he explained.
In the run up to the Eid Fitr Islamic festivity, investors tended to look for the local currency, and therefore the rupiah still had a chance to move upward further, he said.
Meanwhile, earlier the rupiah strengthened against the US dollar on Monday morning as regional stock markets gained and positively affected the Indonesian Stock Exchange (BEI).
The Indonesian currency traded at Rp10,065-Rp10,075 per US dollar, up 45 points from Rp10,110-Rp10,120 per US dollar at the market's close a day earlier.
Positive sentiments in regional bourses encouraged investors to purchase the local unit, Kostaman Thayib, retail banking director of PT Bank Mega Tbk., said here on Monday morning.
The BEI index climbed 5.235 points or 0.23 percent to 2,327.971 and the LQ-45 index went up 1.611 points or 0.35 percent to 452.929 points.
The local currency rose 60 points to Rp10,050-Rp10,065 per US dollar as regional bourses gained.
Both positive internal and external factors had bolstered the rupiah to strengthen, according to Edwin Sinaga, a domestic money market observer.
The Internal factor was Indonesia's sound economic fundamental while the external factor was Wall Street bourse' rally which positively affected regional and domestic bourses, he said.
Bank Indonesia's decision to maintain its BI Rate at 6.5 percent had encouraged foreign investors to actively trade at the domestic money market by releasing the US dollar and purchased the Indonesian currency.
Sinaga believed that the rupiah could reach the level of Rp10,000 per US dollar if the present market condition continued.
For the time being, the rupiah's position at the level of Rp10,050 was quite good as it was in accordance with the Indonesian macro assumption, which targeted the rupiah's exchange rate at Rp10,000 per US dollar in 2010, he explained.
In the run up to the Eid Fitr Islamic festivity, investors tended to look for the local currency, and therefore the rupiah still had a chance to move upward further, he said.
Meanwhile, earlier the rupiah strengthened against the US dollar on Monday morning as regional stock markets gained and positively affected the Indonesian Stock Exchange (BEI).
The Indonesian currency traded at Rp10,065-Rp10,075 per US dollar, up 45 points from Rp10,110-Rp10,120 per US dollar at the market's close a day earlier.
Positive sentiments in regional bourses encouraged investors to purchase the local unit, Kostaman Thayib, retail banking director of PT Bank Mega Tbk., said here on Monday morning.
The BEI index climbed 5.235 points or 0.23 percent to 2,327.971 and the LQ-45 index went up 1.611 points or 0.35 percent to 452.929 points.
