Any amount to Rp9.015 Back Stronger
Forex July 19th, 2010
- Indonesia’s ranking rise by Moddy’s and weakening China’s stance in maintaining the value of its yuan strengthening rupiah seems to be the reason this time.
Based on the middle rate of Bank Indonesia (BI), the rupiah Monday (06/21/2010) suffered penetrating nearly to the level of reinforcement Rp9.000. Rupiah closed at Rp9.015 level, strengthened when compared to the previous weekend in Rp9.135.
While based on the yahoofinance, the rupiah strengthened through the psychological barrier even Rp9.000. Rupiah was in a position Rp8.997, five with the trading range 0.5-Rp9 Rp8.997 .090.
Apparently there are two main reasons mengerak the rupiah strengthened. First, China appeared to be softening in maintaining its yuan peg. Strengthening the yuan would balance the global economy and positive for the exporting countries.
This will also make prices cheaper for China, triggering speculation will increase the demand for commodities by China.
In addition, Moody’s Investors Service today (21/06/2010) Indonesia’s debt rating raised dominate rupiah and foreign currency from stable to positive by Ba2 level.
This afternoon, the rupiah exchange rate against U.S. dollar (U.S.) rose slightly from Rp9.148 become Rp9.010. “This announcement would attract capital into the bond market in Indonesia and help strengthen the rupiah,” said Standard Chartered Bank economist Eric Alexander Sugandi in Jakarta.
