Jakarta, Indonesia (News Today) - The rupiah weakened against the US dollar in the Jakarta interbank spot market here Wednesday on profit taking moves. The Indonesian currency traded Rp8,992 per US dollar, down 10 points from Rp8,975 per US dollar at the market’s close a day earlier. Demand for the greenback was quite high, according to Cece Ridwan, a money market analyst of Eco Capital Securities, said. Besides, investors were also waiting for Bank Indonesia (BI)’s decision on its key rate (BI Rate) to be taken at a meeting of BI’s Board of Governors on Wednesday (Jan 5), he said. "The central bank is some kind of a dilemma, because the inflation rate has gone up to nearly 7 percent," he said. On Monday, the Central Bureau of Statistics (BPS) announced that last year’s inflation rate was 6.96 percent. BPS Chief Rusman Heriawan said the biggest contributors to the inflation rate in calendar year 2010 were food stuffs (3.5 percent), processed food (1.23 percent), as well as housing, water, and electricity (1.01 percent). "The 2010 inflation rate is high due to fluctuating administered prices and volatile foods," he said. Last year’s inflation rate was also affected by the prices of rice, chili, union, and jewelry as well as electricity , he said.
Source : kompas
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