ID :
20997
Wed, 09/24/2008 - 14:56
Auther :
Shortlink :
http://m.oananews.org//node/20997
The shortlink copeid
RUPIAH UP 10 POINTS ON WEDNESDAY MORNING
Jakarta, Sept 24 (ANTARA) - The rupiah strengthened by 10 points against the US dollar in the Jakarta interbank spot market on Wednesday morning thanks to positive sentiment over the government's achievement in lowering the corruption rate.
The rupiah traded at Rp9,325/9,340 per dollar early Wednesday compared to Rp9,335/9,339 per dollar the day before, up 10 points.
It showed that the fight against corruption, the reform of the bureaucracy in particular, was beginning to be appreciated by the market, Rully Nova, foreign exchange analyst of PT Bank Himpunan Saudara Tbk, said here on Wednesday.
A survey by Transparency International showed that of 180 countries in the survey, Indonesia ranked 126, with a CPI (Corruption Perception Index) of 2.6, an improvement from the 2.3 it scored in the 2007 survey, which placed the country in 143th place on a rating list of 180 countries.
The CPI which ranges from zero to 10 reflects public perception of a country's commitment to fighting corruption on the part of government officials.
The intensified graft eradication efforts contributed to the market's positive sentiment and encouraged market players to speculatively buy rupiah and release dollars, he said.
The campaign being conducted by the Corruption Eradication Commission (KPK) was successfully deterring corrupt state officials, he said.
Besides, the strengthening of the rupiah was also caused by market players looking for profits by gradually releasing their dollars after the greenback strengthened over the past few days.
Meanwhile, the dollar which had earlier tumbled against other global major currencies, started to recover as market players were waiting for the US government's plan to inject US$700 billion to take over non-performing loans in the US property sector.
The euro fell to 1.4657 from 1,4796 per dollar. The dollar was up 105.49 from 105.42 against yen.
The rupiah was expected to strengthen further in the afternoon as the positive sentiment had the potential of continuing to bost the local unit.
The rupiah traded at Rp9,325/9,340 per dollar early Wednesday compared to Rp9,335/9,339 per dollar the day before, up 10 points.
It showed that the fight against corruption, the reform of the bureaucracy in particular, was beginning to be appreciated by the market, Rully Nova, foreign exchange analyst of PT Bank Himpunan Saudara Tbk, said here on Wednesday.
A survey by Transparency International showed that of 180 countries in the survey, Indonesia ranked 126, with a CPI (Corruption Perception Index) of 2.6, an improvement from the 2.3 it scored in the 2007 survey, which placed the country in 143th place on a rating list of 180 countries.
The CPI which ranges from zero to 10 reflects public perception of a country's commitment to fighting corruption on the part of government officials.
The intensified graft eradication efforts contributed to the market's positive sentiment and encouraged market players to speculatively buy rupiah and release dollars, he said.
The campaign being conducted by the Corruption Eradication Commission (KPK) was successfully deterring corrupt state officials, he said.
Besides, the strengthening of the rupiah was also caused by market players looking for profits by gradually releasing their dollars after the greenback strengthened over the past few days.
Meanwhile, the dollar which had earlier tumbled against other global major currencies, started to recover as market players were waiting for the US government's plan to inject US$700 billion to take over non-performing loans in the US property sector.
The euro fell to 1.4657 from 1,4796 per dollar. The dollar was up 105.49 from 105.42 against yen.
The rupiah was expected to strengthen further in the afternoon as the positive sentiment had the potential of continuing to bost the local unit.
