ID :
83541
Wed, 10/07/2009 - 19:26
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https://www.oananews.org//node/83541
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RUPIAH STRENGTHENS AGAINST US DOLLAR WEDNESDAY AFTERNOON
Jakarta, Oct. 7 (ANTARA) - The rupiah strengthened against the US dollar in the Jakarta interbank spot market here on Wednesday afternoon as investors hunted the local currency.
The Indonesian currency traded at Rp9,425-Rp9,440 per US dollar, up 15 points from Rp9,440-Rp9,450 per US dollar at the market's close a day earlier.
Investors hunted the US dollar after it weakened in the previous trading session, Edwin Sinaga, a domestic money market observer, said here on Wednesday.
The rupiah was also affected by the Wall Street gains which also bolstered the regional bourses to surge, he said.
He expressed his optimism that the rupiah would strengthen again in the next day and might reach the level of Rp9,400 per US dollar.
The rupiah was boosted by the positive sentiment following the issuance of HSBC's survey report which said that foreign investors were fond of Indonesia as it could give better profits than other Asian markets, he said.
Bank Indonesia (BI), the country's central bank, set a target of economic growth at 4-4.5 percent, from 3.5-4 percent earlier, he said.
Analysts predicted that the local unit could reach the level of Rp9,300 per US dollar at the end of this year.
Investors were confident that the Indonesian economy would continue to improve as BI's foreign exchange reserves reached a total of US$62.59 percent, which was a sharp increase, he said.
The rupiah slightly weakened against the US dollar in the Jakarta interbank spot market here on Wednesday morning. The Indonesian currency traded at Rp9,457-Rp9,465 per US dollar, down 17 points from Rp9,440-Rp9,450 at the market's close a day earlier.
Meanwhile, the Composite Stock Price Index (IHSG) at the Indonesian Stock Exchange (BEI) here on Wednesday morning closed higher on regional bourse gains.
The BEI index went up 0.28 points to 2,528.43, and the LQ 45 index rose 0.640 points or 0.28 percent, to 498.244 points. ***
The Indonesian currency traded at Rp9,425-Rp9,440 per US dollar, up 15 points from Rp9,440-Rp9,450 per US dollar at the market's close a day earlier.
Investors hunted the US dollar after it weakened in the previous trading session, Edwin Sinaga, a domestic money market observer, said here on Wednesday.
The rupiah was also affected by the Wall Street gains which also bolstered the regional bourses to surge, he said.
He expressed his optimism that the rupiah would strengthen again in the next day and might reach the level of Rp9,400 per US dollar.
The rupiah was boosted by the positive sentiment following the issuance of HSBC's survey report which said that foreign investors were fond of Indonesia as it could give better profits than other Asian markets, he said.
Bank Indonesia (BI), the country's central bank, set a target of economic growth at 4-4.5 percent, from 3.5-4 percent earlier, he said.
Analysts predicted that the local unit could reach the level of Rp9,300 per US dollar at the end of this year.
Investors were confident that the Indonesian economy would continue to improve as BI's foreign exchange reserves reached a total of US$62.59 percent, which was a sharp increase, he said.
The rupiah slightly weakened against the US dollar in the Jakarta interbank spot market here on Wednesday morning. The Indonesian currency traded at Rp9,457-Rp9,465 per US dollar, down 17 points from Rp9,440-Rp9,450 at the market's close a day earlier.
Meanwhile, the Composite Stock Price Index (IHSG) at the Indonesian Stock Exchange (BEI) here on Wednesday morning closed higher on regional bourse gains.
The BEI index went up 0.28 points to 2,528.43, and the LQ 45 index rose 0.640 points or 0.28 percent, to 498.244 points. ***
