ID :
14470
Thu, 07/31/2008 - 14:34
Auther :
Shortlink :
http://m.oananews.org//node/14470
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RUPIAH MOVES CLOSER TO RP9,100 PER DOLLAR THURSDAY MORNING
Jakarta, July 31 (ANTARA) - The rupiah slowly but surely edged closer to Rp9,100 per dollar in the Jakarta interbank spot market on Thursday morning following a rush for the local unit, a money market observer said.
"The rupiah continues to strengthen to Rp9,100 per dollar although it is not easy for the rupiah to reach the level because of many constraints," Edwin Sinaga said on Thursday.
The rupiah slightly rose by two points to Rp9,115/9,117 per dollar on Thursday morning compared with Rp9,117/9,133 per dollar on Tuesday.
He said the rupiah still needed time to reach Rp9,100 per dollar.
On Monday, the Indonesian currency once hit Rp9,105 per dollar but it later fell to Rp9,133 per dollar.
"We are optimistic the rupiah will reach the level thanks to positive market sentiments towards the Indonesian currency," he said.
The domestic money market still showed signs of positive sentiments. However, the financial crisis affecting the United States and Europe would at least have a negative impact on the rupiah's movement, he said.
He said Bank Indonesia (the central bank)'s intervention in the money market and an inflow of foreign capital gave a boost to the rupiah.
The rupiah's current exchange rate was very stable and the local unit was expected to continue to strengthen to Rp9,100 per dollar in the days ahead, he said.
Earlier, the rupiah traded at a range of Rp9,120 to Rp9,125 per dollar as investors were careful in making transactions despite the US greenback's weakening in the global market, he said.
"The rupiah continues to strengthen to Rp9,100 per dollar although it is not easy for the rupiah to reach the level because of many constraints," Edwin Sinaga said on Thursday.
The rupiah slightly rose by two points to Rp9,115/9,117 per dollar on Thursday morning compared with Rp9,117/9,133 per dollar on Tuesday.
He said the rupiah still needed time to reach Rp9,100 per dollar.
On Monday, the Indonesian currency once hit Rp9,105 per dollar but it later fell to Rp9,133 per dollar.
"We are optimistic the rupiah will reach the level thanks to positive market sentiments towards the Indonesian currency," he said.
The domestic money market still showed signs of positive sentiments. However, the financial crisis affecting the United States and Europe would at least have a negative impact on the rupiah's movement, he said.
He said Bank Indonesia (the central bank)'s intervention in the money market and an inflow of foreign capital gave a boost to the rupiah.
The rupiah's current exchange rate was very stable and the local unit was expected to continue to strengthen to Rp9,100 per dollar in the days ahead, he said.
Earlier, the rupiah traded at a range of Rp9,120 to Rp9,125 per dollar as investors were careful in making transactions despite the US greenback's weakening in the global market, he said.
