ID :
21436
Fri, 09/26/2008 - 15:15
Auther :
Shortlink :
http://m.oananews.org//node/21436
The shortlink copeid
RUPIAH TRADES AT ABOVE RP9,300 PER DOLLAR ON FRIDAY MORNING
Jakarta, Sept 26 (ANTARA) - The rupiah remained above Rp9,300 per dollar in the Jakarta interbank spot market on Friday morning due to the absence of positive sentiment to boost the local unit to appreciate.
The rupiah traded at Rp9,358/9,360 per dollar on Friday morning compared to Rp9,370/9,374 per dollar the day before, up 12 points.
The rupiah rose as investors sought gains after the dollar strengthened to nearly Rp9,400 in the past three days, money market observer Edwin Sinaga said.
The rise was only a matter of supply and demand, he said.
He said the rupiah's appreciation was thanks to Bank Indonesia (the central bank/BI)'s market intervention which prompted the local unit to appreciate albeit at a small level.
"We believe the rupiah will again appreciate in the evening, if BI remains in the market," he said.
BI expects the rupiah to be traded at below Rp9,200 per dollar, a level which is considered quite safe for the local unit.
To bring the rupiah back to a level of Rp9,200, BI is most likely to intervene in the market and take other measures including raising its key interest rate, he said.
Judging by the global economic turbulence, the rupiah would temporarily trade at a range of Rp9,300 to Rp9,400 per dollar, he said.
The global economic turbulence was the result of economic slowdown so that it would be difficult for the rupiah to return to a level of below Rp9,200 per dollar, he said.
The rupiah traded at Rp9,358/9,360 per dollar on Friday morning compared to Rp9,370/9,374 per dollar the day before, up 12 points.
The rupiah rose as investors sought gains after the dollar strengthened to nearly Rp9,400 in the past three days, money market observer Edwin Sinaga said.
The rise was only a matter of supply and demand, he said.
He said the rupiah's appreciation was thanks to Bank Indonesia (the central bank/BI)'s market intervention which prompted the local unit to appreciate albeit at a small level.
"We believe the rupiah will again appreciate in the evening, if BI remains in the market," he said.
BI expects the rupiah to be traded at below Rp9,200 per dollar, a level which is considered quite safe for the local unit.
To bring the rupiah back to a level of Rp9,200, BI is most likely to intervene in the market and take other measures including raising its key interest rate, he said.
Judging by the global economic turbulence, the rupiah would temporarily trade at a range of Rp9,300 to Rp9,400 per dollar, he said.
The global economic turbulence was the result of economic slowdown so that it would be difficult for the rupiah to return to a level of below Rp9,200 per dollar, he said.
