ID :
114290
Wed, 03/31/2010 - 08:38
Auther :
Shortlink :
https://oananews.org//node/114290
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RUPIAH DOWN 20 POINTS LATE TUESDAY
Jakarta, March 30 (ANTARA) - The rupiah closed 20 points lower to Rp9,075-Rp9,085 against the US dollar in the Jakarta interbank spot market late Tuesday as investors disposed of the local unit on profit taking moves.
The rupiah`s depreciation was something normal after it moved past the level of Rp9,100 per dollar the day before, PT Bank Mega retail banking director Kostaman Thayib said.
The Indonesian currency still traded below Rp9,100 per dollar although it weakened against the US greenback, he said.
The rupiah closed Rp9,090-Rp9,100 per dollar on Monday.
Kostaman said investors disposed of the rupiah on profit taking moves amidst the weakening Indonesian stock market.
Yet the local unit still had a chance to strengthen again owing to positive market sentiments, he said.
Investors still wanted to invest in the domestic market that gave greater gain than any other markets, he said.
He said Indonesia`s steady economic growth was one of the factors prompting investors to continue to invest in the domestic market.
"I am optimistic that the rupiah will strengthen again to edge closer to Rp9,050 per dollar on the following day," he said.
He believed the money market and the stock market would rebound on the following days thanks to the inflow of foreign capital, the more so because the dollar was weakening against euro after an international financial institution vowed to help Greece deal with financial crisis.
The rupiah`s depreciation was something normal after it moved past the level of Rp9,100 per dollar the day before, PT Bank Mega retail banking director Kostaman Thayib said.
The Indonesian currency still traded below Rp9,100 per dollar although it weakened against the US greenback, he said.
The rupiah closed Rp9,090-Rp9,100 per dollar on Monday.
Kostaman said investors disposed of the rupiah on profit taking moves amidst the weakening Indonesian stock market.
Yet the local unit still had a chance to strengthen again owing to positive market sentiments, he said.
Investors still wanted to invest in the domestic market that gave greater gain than any other markets, he said.
He said Indonesia`s steady economic growth was one of the factors prompting investors to continue to invest in the domestic market.
"I am optimistic that the rupiah will strengthen again to edge closer to Rp9,050 per dollar on the following day," he said.
He believed the money market and the stock market would rebound on the following days thanks to the inflow of foreign capital, the more so because the dollar was weakening against euro after an international financial institution vowed to help Greece deal with financial crisis.
