ID :
10118
Mon, 06/16/2008 - 20:25
Auther :
Shortlink :
https://oananews.org//node/10118
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RUPIAH UP 3 POINTS TO RP9,313 PER DOLLAR ON MONDAY
Jakarta, June 16 (ANTARA) - The rupiah rose three points to Rp9,313/9,315 per dollar in the Jakarta interbank spot market on Monday as investors bought up the local unit, a foreign exchange analyst said.
"The rupiah buyup is relatively small as investors are still waiting for a meeting of the group of eight (G-8) industrialized nations expected to send a positive market sentiment," Rully Nova of PT Bank Himpunan Saudara said.
The rupiah closed at Rp9,316/9,320 per dollar at the weekend.
As previously expected, the rupiah which fell in the morning session would strengthen on Monday evening as the price correction was relatively small, he said.
But the rupiah buyup occurred ahead of the evening session so that it appreciated only slightly, he said.
The rupiah's appreciation was inseparable from Bank Indonesia (the central bank)'s efforts to keep the Indonesian currency at the safe level of Rp9,300 per dollar, he said.
If the rupiah could be kept below Rp9,300 per dollar, it would be considered to be in the safest position, he said.
After all, it would be somewhat difficult for the rupiah to remain below Rp9,300 per dollar given the unpredictability of global market turbulences despite the absence of negative upheaval putting pressure on it, he said.
Slowly but surely, the rupiah would reach the level as it kept moving closer to Rp9,300 per dollar, he said.
The Indonesian economy was also expected to pick up as reflected by investors' interest in investing in the domestic market, he said.
"The rupiah buyup is relatively small as investors are still waiting for a meeting of the group of eight (G-8) industrialized nations expected to send a positive market sentiment," Rully Nova of PT Bank Himpunan Saudara said.
The rupiah closed at Rp9,316/9,320 per dollar at the weekend.
As previously expected, the rupiah which fell in the morning session would strengthen on Monday evening as the price correction was relatively small, he said.
But the rupiah buyup occurred ahead of the evening session so that it appreciated only slightly, he said.
The rupiah's appreciation was inseparable from Bank Indonesia (the central bank)'s efforts to keep the Indonesian currency at the safe level of Rp9,300 per dollar, he said.
If the rupiah could be kept below Rp9,300 per dollar, it would be considered to be in the safest position, he said.
After all, it would be somewhat difficult for the rupiah to remain below Rp9,300 per dollar given the unpredictability of global market turbulences despite the absence of negative upheaval putting pressure on it, he said.
Slowly but surely, the rupiah would reach the level as it kept moving closer to Rp9,300 per dollar, he said.
The Indonesian economy was also expected to pick up as reflected by investors' interest in investing in the domestic market, he said.
