| Rupiah weakens afternoon 18 points |
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| Wednesday, 09 December 2009 14:46 | |||
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Jakarta - Kurs rupiah against the U.S. dollar in the Jakarta interbank spot market, to weaken Tuesday afternoon 18 points to Rp9.448-Rp9.454 per dollar compared to the previous day's closing Rp9.430-Rp9.445 because market players off the local currency. Money market observer Edwin Sinaga in Jakarta, Tuesday said the growing market pressure triggered the rupiah strengthened corrected than the previous session. "We expect a negative pressure on the rupiah would continue, if the Bank Indonesia (BI) into the market to do an intervention," he said. According to Edwin Sinaga, also Director of PT Nusa Corpindo Finan, BI will keep dollars in order not to sink further and stay within range Rp9.450-Rp9.475 per dollar. Moreover, BI has foreign exchange reserves continued to increase, the dollar's movement is still negative is not a problem, he said. Rupiah, he added, still has a chance to be strengthened again, because the foreign players still remain in the market. Foreign principals are just waiting for the continuation of the rights questionnaire House plan that would address problems Century bank bailouts, he said. Indonesia, according to him, still a potential market that needs work further and provide more attractive benefits. Therefore, future dollars will be strengthened still triggered by the improved global economic growth more quickly, he said. (*) (ANTARA News)
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