| Rupiah Exchange Rate Down 10 Points |
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| Friday, 23 July 2010 10:32 | |||||||
Page 1 of 2 Jakarta-rupiah exchange rate against the U.S. dollar in the Jakarta interbank spot market on Friday morning in a narrow range, because Bank Indonesia still keep moving in order not to widen.
The value of the rupiah against the U.S. dollar, down 10 points to Rp9.050-Rp9.060 per dollar from the previous closing Rp9.040-Rp9.050. Currency analysts, Michael Andy Surya in Jakarta, said Bank Indonesia (BI) to keep rupiah in order not to be in a broad range, especially the currency markets tend to push Indonesia moves closer Rp9.000 per dollar level. "We expect the central bank will remain on the market, for fear that if the amount allowed in accordance with the will of the market, the Indonesian currency will be able to reach Rp9.000 per dollar," he said. Due to the intervention of BI, according to him, causing the rupiah hard to move up even tend to weaken, although located in a narrow range. Conditions of rupiah as it was desired by BI in order to maintain its revenues from foreign exchange is not reduced, he said. Bank Indonesia, the rupiah continued he wants to be in the range between Rp9.050 until Rp9.100 per dollar that continues to occur throughout the month. Although foreign players stay active playing in the capital markets that drive the stock price composite index rose 3,000 points to pierce, but the rupiah less likely to move higher, he said. Even on Wall Street tend to be in two days terakahir continue to strengthen that triggered by the improvement in corporate earnings, but the rupiah was still in a narrow range. Therefore, the amount will not be able to move widened, but emerged a strong positive issues such as going to the entry of government companies, Pertamina, which is expected to stimulate capital markets and financial markets, he said. If listingnya Pertamina gave a strong positive factor, it will be able to reach Rp9.000 rupiah per dollar, even meliwatinya. "We are optimistic the rupiah will be able to go to Rp9.000 per dollar level, which indicates that the macroeconomic fundamentals is running well," he said. (H-CS/A024) [antaranews]
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