ID :
88869
Tue, 11/10/2009 - 16:02
Auther :
Shortlink :
https://www.oananews.org//node/88869
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RUPIAH SLIGHTLY WEAKENS AGAINST US DOLLAR
Jakarta, Nov. 10 (ANTARA) - The rupiah weakened against the US dollar in the Jakarta interbank spot market here on Tuesday morning on profit taking moves.
The Indonesian currency traded Rp9,425-Rp9,435 per US dollar, down 10 points from Rp9,415-Rp9,425 per US dollar at the market's close a day earlier.
Investors rushed into profit-taking transactions after the rupiah had earlier strengthened to the level of Rp9,400 per US dollar, Kostaman Thayib, retail banking director of PT Bank Mega Tbk. said.
They were also worried about the ongoing domestic issues which they believed could affect economic growth, he said.
The prolonged Bank Century case which triggered a rivalry between the Corruption Eradication Commission (KPK) and the national police, could have a counter-productive effect on national economic growth, he said.
However, Indonesia was still considered a profitable market by foreign investors because the balance between the rupiah's interest against the US dollar was quite high.
Another factor which negatively affected the rupiah was the fact that investors were also concerned about an expected increase in the US budget deficit, he said.
"We are optimistic that the rupiah still has a chance to move upward again at the end of this year when it might reach between Rp9,200 and Rp9,300 per US dollar," he said.
The Indonesian currency traded Rp9,425-Rp9,435 per US dollar, down 10 points from Rp9,415-Rp9,425 per US dollar at the market's close a day earlier.
Investors rushed into profit-taking transactions after the rupiah had earlier strengthened to the level of Rp9,400 per US dollar, Kostaman Thayib, retail banking director of PT Bank Mega Tbk. said.
They were also worried about the ongoing domestic issues which they believed could affect economic growth, he said.
The prolonged Bank Century case which triggered a rivalry between the Corruption Eradication Commission (KPK) and the national police, could have a counter-productive effect on national economic growth, he said.
However, Indonesia was still considered a profitable market by foreign investors because the balance between the rupiah's interest against the US dollar was quite high.
Another factor which negatively affected the rupiah was the fact that investors were also concerned about an expected increase in the US budget deficit, he said.
"We are optimistic that the rupiah still has a chance to move upward again at the end of this year when it might reach between Rp9,200 and Rp9,300 per US dollar," he said.
