ID :
12250
Fri, 07/11/2008 - 21:17
Auther :
Shortlink :
http://m.oananews.org//node/12250
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RUPIAH EDGES CLOSER TO RP9,150 PER DOLLAR FRIDAY
Jakarta, July 11 (ANTARA) - The rupiah edged closer to Rp9,150 per dollar in the Jakarta interbank spot market on Friday evening as investors bought the local unit following the US greenback's fall against Asian currencies, an analyst said.
"The rupiah's rise was relatively small because investors were still careful in buying the rupiah in large amounts despite foreign investors' worries about US economic growth," the retail banking director of PT Bank Mega Tbk, Kostaman Thayib, said on Friday.
The rupiah rose four points to Rp9,155/9,157 per dollar on Friday evening compared with Rp9,159/9,172 per dollar the day before.
He said the rupiah's slight increase mainly resulted from the rupiah buyups ahead of Friday's closing session.
The rupiah was earlier expected to trade at Rp9,150 per dollar because of a positive sentiment from the sale of the state global bonds abroad, he said.
He said the rupiah also received a boost as short-term investors were active in putting their funds in Bank Indonesia (central bank) instruments.
Therefore, the rupiah's chance to strengthen to Rp9,150 per dollar was still wide open, he said.
"We are optimistic the rupiah still can strengthen further, the more so because foreign investors have shown great interest in investing in the domestic market," he said.
He predicted the rupiah would move upward early next week on concerns the US financial crisis would put a further strain on the dollar.
In response to the worries about the US financial sector, the Federal Reserve would unlikely raise its interest rate again, he said.
"We are optimistic the Fed will keep its interest rate unchanged," he said.
"The rupiah's rise was relatively small because investors were still careful in buying the rupiah in large amounts despite foreign investors' worries about US economic growth," the retail banking director of PT Bank Mega Tbk, Kostaman Thayib, said on Friday.
The rupiah rose four points to Rp9,155/9,157 per dollar on Friday evening compared with Rp9,159/9,172 per dollar the day before.
He said the rupiah's slight increase mainly resulted from the rupiah buyups ahead of Friday's closing session.
The rupiah was earlier expected to trade at Rp9,150 per dollar because of a positive sentiment from the sale of the state global bonds abroad, he said.
He said the rupiah also received a boost as short-term investors were active in putting their funds in Bank Indonesia (central bank) instruments.
Therefore, the rupiah's chance to strengthen to Rp9,150 per dollar was still wide open, he said.
"We are optimistic the rupiah still can strengthen further, the more so because foreign investors have shown great interest in investing in the domestic market," he said.
He predicted the rupiah would move upward early next week on concerns the US financial crisis would put a further strain on the dollar.
In response to the worries about the US financial sector, the Federal Reserve would unlikely raise its interest rate again, he said.
"We are optimistic the Fed will keep its interest rate unchanged," he said.
