| Rupiah Tap Level 8950 |
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| Friday, 30 July 2010 11:28 | |||||||
Page 1 of 2 Jakarta - The rupiah exchange rate against the U.S. dollar on the Jakarta interbank spot market on Friday morning, following the 9000 figure rose away from the entry of foreign funds into the domestic market.This morning, Indonesian currency exchange rate against the U.S. currency had gained 25 points on Rp8.950-Rp8.960 per dollar, whereas the previous day to close at Rp8.975-Rp8.985. Director of Currency Management Group, Farial Anwar in Jakarta, said the opportunity to reach Rp8.900 rupiah per U.S. dollar due to growing flow of foreign money mostly placed in treasury bonds and other instruments of Bank Indonesia publications. BI rate Farial feel the need to encourage the rupiah appreciates that had been suspended because it wanted to keep it below the level of Rp9.000 per dollar. He said the rupiah appreciation shows the BI not only think about the interests of exporters, but also other interests to maintain its credibility as a monetary authority. He continued, if the rupiah strengthened, the community will not pay for the haj pilgrimage to the expensive prices, currently at Rp35 million per person. In addition, the increase of this amount would reduce government subsidies for fuel oil to the public. Farial sure rupiah will reach Rp8.800 per dollar if the motion is appropriate to let the BI market mechanism. "We'll see in the trade during Friday whether there was a reaction to the movements of rupiah from BI," said Farial. (ANTARANews / Andika Wahyu / SS / PD) www.tenderoffer.biz
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