ID :
91808
Thu, 11/26/2009 - 17:28
Auther :
Shortlink :
https://www.oananews.org//node/91808
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RUPIAH WEAKENS AGAINST US DOLLAR ON PROFIT TAKING MOVES
Jakarta, Nov. 26 (ANTARA) - The rupiah weakened against the US dollar in the Jakarta interbank spot market here on Thursday morning on profit taking moves.
The Indonesian currency traded Rp9,411-Rp9,425 per US dollar, down 21 points from Rp9,390-Rp9,400 per US dollar at the market's close a day earlier.
Despite the depreciation, the rupiah's position was quite sound, namely at between Rp9,400 and Rp9,450 per US dollar, Fauzi Ichsan, a banking observer, said here on Thursday.
Investors released the local currency to take profit in the run up to the Idhul Adha Islamic festivity, he said.
He believed that the rupiah still had a chance to strengthen and approach the level of Rp9,300 per US dollar, given the soundess of Indonesia's economic fundamentals.
Fauzi Ichsan also believed that the rupiah could move upward to the level of nearly Rp9,300 per US dollar at the end of this year.
Foreign investors were confident that Indonesian markets were more profitable than other Asian markets, he said.
The fact that the cases of Bibit Samad Rianto and Chndra Hamzah, the suspended KPK (Corruption Eradication Commission) leaders were not taken to court, demonstrated there was legal certainty in Indonesia, after all, he said. ***
The Indonesian currency traded Rp9,411-Rp9,425 per US dollar, down 21 points from Rp9,390-Rp9,400 per US dollar at the market's close a day earlier.
Despite the depreciation, the rupiah's position was quite sound, namely at between Rp9,400 and Rp9,450 per US dollar, Fauzi Ichsan, a banking observer, said here on Thursday.
Investors released the local currency to take profit in the run up to the Idhul Adha Islamic festivity, he said.
He believed that the rupiah still had a chance to strengthen and approach the level of Rp9,300 per US dollar, given the soundess of Indonesia's economic fundamentals.
Fauzi Ichsan also believed that the rupiah could move upward to the level of nearly Rp9,300 per US dollar at the end of this year.
Foreign investors were confident that Indonesian markets were more profitable than other Asian markets, he said.
The fact that the cases of Bibit Samad Rianto and Chndra Hamzah, the suspended KPK (Corruption Eradication Commission) leaders were not taken to court, demonstrated there was legal certainty in Indonesia, after all, he said. ***
