ID :
115240
Tue, 04/06/2010 - 08:43
Auther :
Shortlink :
https://oananews.org//node/115240
The shortlink copeid
RUPIAH STRENGTHENS BELOW RP9,050/DOLLAR LATE MONDAY
Jakarta, Apr 5 (ANTARA) - The rupiah closed 20 points higher against the dollar at the Jakarta interbank spot market on Monday evening on rising demand for the Indonesian currency.
The rupiah traded at Rp9,045-Rp9,055 per dollar late Monday compared to the previous close of Rp9,065-Rp9,075 per dollar.
As previously expected, the rupiah would continue to strengthen thanks to positive sentiments, money market observer Edwin Sinaga said.
"I am optimistic the rupiah may hit the level of Rp9,000 per dollar (in the days ahead)," he said.
The improving domestic macro economic performance coupled with the US stock market rebound would enable the rupiah to edge closer to Rp9,000 per dollar, Edwin, who is also the president director of Finan Corpindo Nusa said.
What was more foreign investors had increased investment in the domestic market, raising hope for the rupiah to further appreciate, he said.
But the rupiah`s faster-than-expected appreciation might deal a blow to exporters because their products would become less competitive in the export market, he said.
Hence, Bank Indonesia (the central bank/BI) was likely to release its foreign exchange reserves to stem it, he said.
"I hope the rupiah`s fast appreciation can be stemmed to allow exporters to adjust the prices of their commodities to the export market," he said.
The rupiah traded at Rp9,045-Rp9,055 per dollar late Monday compared to the previous close of Rp9,065-Rp9,075 per dollar.
As previously expected, the rupiah would continue to strengthen thanks to positive sentiments, money market observer Edwin Sinaga said.
"I am optimistic the rupiah may hit the level of Rp9,000 per dollar (in the days ahead)," he said.
The improving domestic macro economic performance coupled with the US stock market rebound would enable the rupiah to edge closer to Rp9,000 per dollar, Edwin, who is also the president director of Finan Corpindo Nusa said.
What was more foreign investors had increased investment in the domestic market, raising hope for the rupiah to further appreciate, he said.
But the rupiah`s faster-than-expected appreciation might deal a blow to exporters because their products would become less competitive in the export market, he said.
Hence, Bank Indonesia (the central bank/BI) was likely to release its foreign exchange reserves to stem it, he said.
"I hope the rupiah`s fast appreciation can be stemmed to allow exporters to adjust the prices of their commodities to the export market," he said.
