FLGS – Global Finance Report

- exchange rate of rupiah against the U.S. dollar in the Jakarta interbank spot market on Friday (18/06/2010) morning improved away from the number of Rp 9150 per U.S. dollar, because the perpetrators are still buying rupiah, because the opportunity market in Indonesia’s currency strengthened .

The value of the rupiah against the U.S. dollar rose three points to USD 9145-USD 9150 per dollar, compared to the previous day’s close of USD 9148-USD 9155.

Currency analysts Brothers Tbk PT Bank Association, Rully Nova in Jakarta, said the increase in the average amount is relatively small, but increases that continue to occur that trigger the rupiah through the figure of Rp 9150 per U.S. dollar. “We are optimistic the rupiah will continue to strengthen until the approaching figure of Rp 9,100 per dollar,” he said.

According Rully Nova, a small increase in amount that, because market players still pay attention to such global economic growth in Europe and the United States, whether the financial crisis that occurred in the area getting better or not.

“If the area was improving, then they are more likely to buy U.S. dollars or euros, as both currencies were valued currencies that are quite safe in making the investment,” he said.

Therefore, further Rully, market demand on the rupiah is still relatively small, although there were rumors that Asia was the main supporter of global economic growth. “But the opportunity to continue strengthening rupiah is still quite large, since foreign investment is estimated to be even greater,” he said.

Rupiah, according Rully Nova, next week will probably bounce back up to nearly USD 9100 meliwatinya even as the market increasingly positive. “We are optimistic the rupiah will be able to break the USD 9100 per U.S. dollar and headed to a level of Rp 9,000 per dollar,” he said.