ID :
9975
Fri, 06/13/2008 - 13:03
Auther :
Shortlink :
https://oananews.org//node/9975
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RUPIAH DROPS TO RP9,313/9,318 AGAINST US DOLLAR ON FRIDAY MORNING
Jakarta, June 13 (ANTARA) - Rupiah on the Jakarta inter-bank spot market on Friday morning dropped to Rp9,313/9,318 against US dollar as market players preferred buying the US currency to the Indonesian unit, a money market analyst has said.
Banking Retail Director of PT Bank Mega Tbk (publicly listed), Kostaman Thayib, said here Friday market players released rupiah to win profits after the local unit strengthened in two consecutive days.
"However, correction to rupiah is still relatively small as a number of positive and external factors are still high," he said.
According to him, the bullish regional share market is one of factors causing rupiah not to plunge deeper.
Another factor affecting the Indonesian currency is the drop in US dollar on the global market as there is no indication yet that the US economy will improve after US financial company Lehman Brother suffered a great loss in the first quarter of 2008, he said.
He said it was only a matter of time that rupiah would strengthen again.
Rupiah moved between a range of Rp9,310 and Rp9,320 to the US greenback this week as Bank Indonesia (BI, the central bank) continued to monitor developments of the two currencies and BI would intervene in the market to boost rupiah so as to make it stay under the level of Rp9,300 to the dollar, the said.
He said market players were also waiting for the industrialized countries' meeting which would discuss currency issues and the increase in the prices of world crude oil and foods.
Banking Retail Director of PT Bank Mega Tbk (publicly listed), Kostaman Thayib, said here Friday market players released rupiah to win profits after the local unit strengthened in two consecutive days.
"However, correction to rupiah is still relatively small as a number of positive and external factors are still high," he said.
According to him, the bullish regional share market is one of factors causing rupiah not to plunge deeper.
Another factor affecting the Indonesian currency is the drop in US dollar on the global market as there is no indication yet that the US economy will improve after US financial company Lehman Brother suffered a great loss in the first quarter of 2008, he said.
He said it was only a matter of time that rupiah would strengthen again.
Rupiah moved between a range of Rp9,310 and Rp9,320 to the US greenback this week as Bank Indonesia (BI, the central bank) continued to monitor developments of the two currencies and BI would intervene in the market to boost rupiah so as to make it stay under the level of Rp9,300 to the dollar, the said.
He said market players were also waiting for the industrialized countries' meeting which would discuss currency issues and the increase in the prices of world crude oil and foods.
