ID :
11354
Thu, 07/03/2008 - 23:11
Auther :
Shortlink :
http://m.oananews.org//node/11354
The shortlink copeid
RUPIAH EDGES CLOSER TO RP9,200 PER DOLLAR ON THURSDAY
Jakarta, July 3 (ANTARA) - The rupiah edged closer to Rp9,200 per dollar in the Jakarta interbank spot market on Thursday as investors bought the local unit on the US dollar's depreciation against other major currencies.
"The rupiah is expected to reach Rp9,200 per dollar or more because of investors' high interest in buying the local unit," Kostaman Thayib, retail banking director of PT Bank Mega Tbk, said on Thursday.
The rupiah closed at Rp9,205/9,208 per dollar on Thursday against Rp9,215/9,225 per dollar the day before.
He said investors were still careful in buying the rupiah on concern that anti-fuel oil price hike protests would continue.
"We are optimistic that the rupiah will hit Rp9,200 per dollar after it stood at Rp9,210/9.220 per dollar for quite long time," he said.
The issuance of dollar-denominated global bonds was the main factor of the rupiah's appreciation, he said.
The rupiah received another boost after a number of foreign investors, particularly from the Middle East and Australia, expressed keen interest in raising their investment in the domestic market due to the high difference between the rupiah and dollar interest rates, he said.
"We predict the rupiah will stay in a quite safe position for a long time despite the stubbornly high inflation rates," he said.
The high on-month inflation rate in June would likely prompt Bank Indonesia (BI) to raise its benchmark interest rate (BI Rate) despite calls for the central bank to keep it at 8.50 percent, he said.
An increase in the BI Rate would encourage banks to readjust their lending rates, he said.
"The rupiah is expected to reach Rp9,200 per dollar or more because of investors' high interest in buying the local unit," Kostaman Thayib, retail banking director of PT Bank Mega Tbk, said on Thursday.
The rupiah closed at Rp9,205/9,208 per dollar on Thursday against Rp9,215/9,225 per dollar the day before.
He said investors were still careful in buying the rupiah on concern that anti-fuel oil price hike protests would continue.
"We are optimistic that the rupiah will hit Rp9,200 per dollar after it stood at Rp9,210/9.220 per dollar for quite long time," he said.
The issuance of dollar-denominated global bonds was the main factor of the rupiah's appreciation, he said.
The rupiah received another boost after a number of foreign investors, particularly from the Middle East and Australia, expressed keen interest in raising their investment in the domestic market due to the high difference between the rupiah and dollar interest rates, he said.
"We predict the rupiah will stay in a quite safe position for a long time despite the stubbornly high inflation rates," he said.
The high on-month inflation rate in June would likely prompt Bank Indonesia (BI) to raise its benchmark interest rate (BI Rate) despite calls for the central bank to keep it at 8.50 percent, he said.
An increase in the BI Rate would encourage banks to readjust their lending rates, he said.
