ID :
25810
Tue, 10/21/2008 - 18:08
Auther :
Shortlink :
http://m.oananews.org//node/25810
The shortlink copeid
RUPIAH AGAIN WEAKENS ON TUESDAY AFTERNOON
Jakarta, Oct. 21 (ANTARA) - The rupiah again weakened against the US dollar to a level above Rp9,800 in the Jakarta interbank spot market late Tuesday as market players bought US dollars despite Bank Indonesia (BI)'s policy to ease rupiah liquidity.
The rupiah traded at Rp9,825/9,835 per US dollar, a drop of 30 points from Rp9,795/9,800 per US dollar in the morning closing.
Retail banking director of PT Bank Mega Tbk. Kostaman Thayib said here on Tuesday it would be hard for the rupiah to strengthen after it was up 10 points earlier because market players were still worried about the ongoing global financial crisis.
He said that rupiah was predicted to remain nder pressure until the end of this year and it could reach a level of Rp10,000 per US dollar, as the world economic turmoil would be felt starting late this year.
"We believe the rupiah will be further pressured until it reaches a level of Rp10,000 per US dollar," he said.
In fact, he said, a number of US, British and other European central banks continued to provide dollar liquidity in the money market, and it should have improved the rupiah's position, he said.
The injection of dollar liquidity into the international money market should have helped strengthen the rupiah, he said. However, the supply and demand factor in the domestic money market was still dominant and causing the fluctuations of the rupiah, he said.
However, he said the rupiah's position would improve in the future thanks to BI's intervention through new regulations and providing liquidity.
He predicted that the rupiah would reach a level of Rp9,500 per US dollar in the first quarter of 2009.
The government had changed the assumed rupiah exchange rate of Rp9,150 per US dollar to Rp9,500 per US dollar in 2009 to adjust to the world's sluggish economic growth.
The rupiah traded at Rp9,825/9,835 per US dollar, a drop of 30 points from Rp9,795/9,800 per US dollar in the morning closing.
Retail banking director of PT Bank Mega Tbk. Kostaman Thayib said here on Tuesday it would be hard for the rupiah to strengthen after it was up 10 points earlier because market players were still worried about the ongoing global financial crisis.
He said that rupiah was predicted to remain nder pressure until the end of this year and it could reach a level of Rp10,000 per US dollar, as the world economic turmoil would be felt starting late this year.
"We believe the rupiah will be further pressured until it reaches a level of Rp10,000 per US dollar," he said.
In fact, he said, a number of US, British and other European central banks continued to provide dollar liquidity in the money market, and it should have improved the rupiah's position, he said.
The injection of dollar liquidity into the international money market should have helped strengthen the rupiah, he said. However, the supply and demand factor in the domestic money market was still dominant and causing the fluctuations of the rupiah, he said.
However, he said the rupiah's position would improve in the future thanks to BI's intervention through new regulations and providing liquidity.
He predicted that the rupiah would reach a level of Rp9,500 per US dollar in the first quarter of 2009.
The government had changed the assumed rupiah exchange rate of Rp9,150 per US dollar to Rp9,500 per US dollar in 2009 to adjust to the world's sluggish economic growth.
