ID :
99375
Mon, 01/11/2010 - 16:29
Auther :
Shortlink :
https://www.oananews.org//node/99375
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RUPIAH STRENGTHENS AGAINST US DOLLAR
Jakarta, Jan. 11 (ANTARA) - The rupiah strengthened against the US dollar in the Jakarta interbank spot market here on Monday morning reaching nearly Rp9,100 per US dollar.
The Indonesian currency traded at Rp9,135-Rp9,145 per US dollar, up from Rp9,210-Rp9,220 per US dollar at the market's close over the last weekend.
Foreign funds in big amounts entered the market and were converted into rupiah to buy domestic shares, according to Farial Anwar, a domestic money market observer.
Investors were quite enthusiastic in buying shares in the domestic market which was believed to give more profits than other Asian markets, he said.
He predicted that the rupiah would move upward further in the afternoon and might touch the level of Rp9,100 per US dollar.
The local unit still had a big chance to strengthen further as investors continued to buy the rupiah, Anwar, concurrently director of the Currency Management Board, said.
"We are optimistic that the rupiah this month will reach the level of Rp9,000 per US dollar, if Bank Indonesia (BI, the central bank), does not intervene into the market," he said.
Meanwhile, another domestic money market observer, Edwin Sinaga, said that the rupiah would be at the level of below Rp9,000 per US dollar soon.***
The Indonesian currency traded at Rp9,135-Rp9,145 per US dollar, up from Rp9,210-Rp9,220 per US dollar at the market's close over the last weekend.
Foreign funds in big amounts entered the market and were converted into rupiah to buy domestic shares, according to Farial Anwar, a domestic money market observer.
Investors were quite enthusiastic in buying shares in the domestic market which was believed to give more profits than other Asian markets, he said.
He predicted that the rupiah would move upward further in the afternoon and might touch the level of Rp9,100 per US dollar.
The local unit still had a big chance to strengthen further as investors continued to buy the rupiah, Anwar, concurrently director of the Currency Management Board, said.
"We are optimistic that the rupiah this month will reach the level of Rp9,000 per US dollar, if Bank Indonesia (BI, the central bank), does not intervene into the market," he said.
Meanwhile, another domestic money market observer, Edwin Sinaga, said that the rupiah would be at the level of below Rp9,000 per US dollar soon.***
