| Still rupiah slumped |
 |
 |
 |
| Saturday, 22 May 2010 09:47 | |||||||
Page 1 of 2 Jakarta
- The rupiah against the U.S. dollar in the Jakarta interbank spot
market, Friday evening, still slumped despite selling pressure on the
rupiah has been reduced.
The value of the rupiah against the U.S. dollar weakened to Rp9.275-Rp9.290 per dollar compared to the previous day's closing Rp9.240-Rp9.250 per dollar, down 35 points. Money market observer Edwin Sinaga, in Jakarta, said the market was still negative because of rupiah selloff persists, although somewhat reduced market pressure. Rupiah selloff that occurred two days ago to make Indonesia's currency slumped to its Rp9.340 per dollar. But with the entry of Bank Indonesia (BI) to the markets making rupiah slightly better position, he said. Edwin Sinaga who is also president director of Finan Corpindo Nusa said the correction in the estimated amount will not last long, because the potential Indonesian market is still quite good. Moreover, Indonesia is a country that is considered resistant to the crisis that happened two years ago and an increasingly good economic growth, the foreign players are expected to re-enter the domestic market, he said. Rupiah, he added, if there is no going back to the level of resistance Rp9.100 per dollar, triggered by the improvement in the European region after receiving bailout funds from the Financial Institutions of the European Union and the International Monetary Fund. It also triggered by the improvement in the euro against the dollar which is currently declining and coupled with rising U.S. stock prices, he said. The rupiah had slumped to achieve his panic Rp9.340 per dollar due to foreign actors on the global crisis that occurred in Greece is expected to spread to other countries. | Antaranews | tenderoffer.biz |
|
Legitimacy & Law
About Us
Trusted Partner
