Stronger, Rupiah 8500 Level Approach ? ~ MAKE MONEY BLOG$

5/20/11

Stronger, Rupiah 8500 Level Approach ?

12:18 AM

admin

No comments

Image via WikipediaErland Djumena JAKARTA, Make Money Bkog$ - The rupiah against the U.S. dollar in the Jakarta interbank spot market on Friday morning, a sharp rise near the level of Rp 8,500 per dollar because the perpetrator back to buy dollars.

The rupiah exchange rate against the dollar rose 20 points to USD 8530 per dollar compared to the previous day's close of Rp 8550.
Retail Banking Director of PT Bank Mega Tbk Kostaman Thayib in Jakarta said the appreciation of the rupiah due to various positive factors from the external is very supportive of domestic money market. "The foreign players disappointed by various U.S. economic data is still not recovering," said Kostaman Thayib.
According Kostaman Thayib, U.S. economic data such as home sales are still weak, the U.S. industry become slow, and high unemployment claims. "As a result, foreign players are more likely to buy dollars rather than dollars, so encouraging local currency rose sharply," he said.
Moreover, he continued, the foreign currency (U.S. dollars) in the global market tend to weaken, particularly against the euro, to 1.4308 from 1.4236 previously. "If we see market conditions like this, the rupiah against the U.S. dollar is a natural thing," he said.
Market conditions, according to him, is likely to push the rupiah could reach the level of Rp 8,500 per dollar. "We are optimistic that the rupiah will be able to reach the level of Rp 8,500 per dollar because the more positive factors to encourage players to buy dollars," he said.
Meanwhile, an analyst at PT Bank Brothers Tbk, Rully Nova, estimated dollars at the end of this week will be able to reach Rp 8,500 per dollar when the Bank Indonesia (BI) does not enter the market. "BI is likely to hold dollars for not too rapidly reached Rp 8,500 per dollar," said Rully Nova.
Opportunities rupiah, according to him, very large to achieve the level of Rp 8,500 per dollar. "Only a step to be able to reach that level," he said. source: kompas.com
please give me comments thanks