Jakarta, Indonesia (News Today) - The rupiah was stable against the US dollar in the Jakarta interbank spot market Monday morning. The Indonesian currency traded Rp9,050-Rp9,060 per US dollar, similar to that at the market’s close over last weekend.
The trading activity at the domestic money market was still slow as investors were still cautious and waiting for positive factor to boost the market, according to Krisna Dwi Setiawan, an analyst of PT Valbury Asia Securities.
"We are still waiting for a positive issue that could bolster the rupiah which has stayed in a narrow range since few days ago," he said.
The rupiah was under the market pressure following losses on regional stock indexes such as Japan’s Nikkei index. The local unit was actually in quite safe position, but it still had a chance to move upward further, he said.
Indonesia’s economic growth rate was expected to reach above six percent in the second semester of 2010, and it would province a chance for the rupiah to move upward further. Meanwhile, the Composite Stock Price Index at the Indonesian Stock Exchange here on Monday morning got off to a strong start on foreign buying.
The JKSE index went up 12.844 points or 0.45 percent to 2,950.236 points, and the LQ-45 index rose 3.426 points or 0.60 percent to 573.109 points. Among top gainers at the Indonesian bourse were state bank BRI shares that went up Rp150 to Rp9,300, private Bank Danamon shares surged Rp150 to Rp5,450, Bank Mandiri shares climbed Rp150 to Rp9,400, and private bank BCA added Rp100 to Rp9,400, state owned BNI rose Rp50 to Rp2,575.
State telecommunication company Telkom shares went up Rp50 to Rp7,800, Mayora shares advanced Rp200 to Rp7,450, and state gas company PT P Gas increased Rp50 to Rp18,600 per share.
Source : kompas
Thursday, July 15, 2010
Rupiah Stable against USD
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