ID :
14113
Mon, 07/28/2008 - 16:05
Auther :
Shortlink :
http://m.oananews.org//node/14113
The shortlink copeid
RUPIAH EDGES CLOSER TO RP9,100 PER DOLLAR ON MONDAY MORNING
Jakarta, July 28 (ANTARA) - The rupiah rose sharply to edge closer to Rp9,100 per dollar in the Jakarta interbank spot market on Monday morning following a rush for the local unit.
The rupiah traded at Rp9,105/9,110 per dollar on Monday morning against Rp9,136/9,137 per dollar at the weekend, or an increase of 21 points.
As widely expected, the rupiah would hit the level thanks to strong positive market sentiments, money market observer Edwin Sinaga said on Monday.
"We are optimistic the rupiah will strengthen below Rp9,100 per dollar due to the strong market support," he said.
He said the rupiah rose sharply after the monetary authorities believed the Indonesian economy would expand more than 6 percent this year despite a global economic slowdown.
Moreover, the government had been determined to benefit from China's and India's high economic growth, he said.
The government must be able to take advantage of the opportunity to boost economic growth following a shift in economic focus from Europe and the United States to Asia, he said.
He said the US unemployment rate rose to 5.6 percent in July 2008 due in part to low demand in the housing sector.
The rupiah traded at Rp9,105/9,110 per dollar on Monday morning against Rp9,136/9,137 per dollar at the weekend, or an increase of 21 points.
As widely expected, the rupiah would hit the level thanks to strong positive market sentiments, money market observer Edwin Sinaga said on Monday.
"We are optimistic the rupiah will strengthen below Rp9,100 per dollar due to the strong market support," he said.
He said the rupiah rose sharply after the monetary authorities believed the Indonesian economy would expand more than 6 percent this year despite a global economic slowdown.
Moreover, the government had been determined to benefit from China's and India's high economic growth, he said.
The government must be able to take advantage of the opportunity to boost economic growth following a shift in economic focus from Europe and the United States to Asia, he said.
He said the US unemployment rate rose to 5.6 percent in July 2008 due in part to low demand in the housing sector.
