ID :
25666
Mon, 10/20/2008 - 21:59
Auther :
Shortlink :
http://m.oananews.org//node/25666
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RUPIAH DROPS TO RP9,818 PER US DOLLAR ON MONDAY AFTERNOON
Jakarta, Oct. 20 (ANTARA) - The rupiah in the Jakarta interbank spot market on Monday afternoon dropped 33 points to Rp9,818/9,828 per US dollar from Rp9,825/9,830 per US dollar in the morning because of continuing market players' concern about the sluggish global economic conditions.
"Market players are still worried about the current global financial crisis. They prefer to buy dollars rather than keeping rupiah," Rully Nova, a foreign exchange analyst at PT Bank Saudara Tbk, said here on Monday.
However, he said, the pressure on the rupiah eased in the afternoon following intevention in the market by the country's central bank, Bank Indonesia (BI).
BI had to intervene to absorb increased pressure on the rupiah, he said.
Without BI's intervention, the rupiah would have slumped much lower as market players kept buying dollars, he said.
The rupiah would trade between Rp9,800 and Rp9,850 per US dollars this week, he predicted.
The rupiah would not easily reach the level of Rp10,000 per US dollar as BI was tightly supervising the movements of both currencies, he said.
He said, however, it would take a long time for the rupiah to strengthen to Rp9,500 per US dollar - the level assumed by the government for 2009.
"Market players are still worried about the current global financial crisis. They prefer to buy dollars rather than keeping rupiah," Rully Nova, a foreign exchange analyst at PT Bank Saudara Tbk, said here on Monday.
However, he said, the pressure on the rupiah eased in the afternoon following intevention in the market by the country's central bank, Bank Indonesia (BI).
BI had to intervene to absorb increased pressure on the rupiah, he said.
Without BI's intervention, the rupiah would have slumped much lower as market players kept buying dollars, he said.
The rupiah would trade between Rp9,800 and Rp9,850 per US dollars this week, he predicted.
The rupiah would not easily reach the level of Rp10,000 per US dollar as BI was tightly supervising the movements of both currencies, he said.
He said, however, it would take a long time for the rupiah to strengthen to Rp9,500 per US dollar - the level assumed by the government for 2009.
