ID :
32060
Tue, 11/25/2008 - 06:43
Auther :
Shortlink :
http://m.oananews.org//node/32060
The shortlink copeid
RUPIAH WEAKENS AGAINST US DOLLAR LATE MONDAY
Jakarta, Nov. 24 (ANTARA) - The rupiah weakened against the US dollars in the Jakarta interbank sport market, on Monday afternoon, after it was stable in the morning.
The Indonesian currency traded at Rp12,325/12,525 per US dollar, down 25 points from Rp12,300/12,405 per US dollars in the market's closing last weekend.
PT Bank Mega Tbk.'s Retail Director Kostaman Thayib said here on Monday that the market pressure on the rupiah was still high, despite news on loan pledges from the Asian Development Bank (ADB) and France to Indonesia.
ADB plans to provide a loan amounting to US$500 million to Indonesia through a multi-trance finance facility (MFF) for infrastructure development projects. The French Development Agency (AFD) will give a Climate Change Program loan worth US$200 million to Indonesia.
"The rupiah would have plunged deeper if the two loan plans were not there," he said.
The rupiah tumbled due to large-scale purchases of the US dollars to be needed for the year end holidays overseas, he said.
Besides, corporates bought the US dollars to pay their due debts, he said.
However, he considered the rupiah slumping down was normal as the demands for the greenback was high.
The Indonesian central bank should conduct concerted efforts with other central banks to supply the US dollar to the domestic market to meet the high demand for the greenback, he said.
The Indonesian currency traded at Rp12,325/12,525 per US dollar, down 25 points from Rp12,300/12,405 per US dollars in the market's closing last weekend.
PT Bank Mega Tbk.'s Retail Director Kostaman Thayib said here on Monday that the market pressure on the rupiah was still high, despite news on loan pledges from the Asian Development Bank (ADB) and France to Indonesia.
ADB plans to provide a loan amounting to US$500 million to Indonesia through a multi-trance finance facility (MFF) for infrastructure development projects. The French Development Agency (AFD) will give a Climate Change Program loan worth US$200 million to Indonesia.
"The rupiah would have plunged deeper if the two loan plans were not there," he said.
The rupiah tumbled due to large-scale purchases of the US dollars to be needed for the year end holidays overseas, he said.
Besides, corporates bought the US dollars to pay their due debts, he said.
However, he considered the rupiah slumping down was normal as the demands for the greenback was high.
The Indonesian central bank should conduct concerted efforts with other central banks to supply the US dollar to the domestic market to meet the high demand for the greenback, he said.
