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Rupiah Weakens - Reading News

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Reading News - The rupiah against the U.S. dollar Thursday afternoon (8 / 12) back down, despite the correction that occurred relatively smaller than the morning session, with respect to the handling of the crisis that Europe is still unfinished. The rupiah in Jakarta interbank spot market Thursday afternoon lunch down 15 points to Rp9.045 per dollar from the previous Rp9.030.

Analysts Association of Brothers Tbk PT Bank Rully Nova, on Thursday said the rupiah is expected until later this year will range between Rp9.000 to Rp9.100 per dollar. If the rupiah depressed near its Rp9.100 per dollar, Bank Indonesia (BI) has intervened in the market, he said. He added that the rupiah is continuously monitored BI resulted in local currency will remain in that range. When the rupiah collapsed near its Rp9.100 per dollar, then the BI market will aggressively take action to withstand the pressure negative impact on the rupiah, he said. 

According to him, the rupiah to strengthen the actual chances are, if the world's central bank plans to menbanjiri U.S. market. With the flood of dollars in that market, the opportunity to strengthen the rupiah is very large. But the plan still has not happened, because the leaders of the world is currently focused on the problem of the debt crisis in Europe. In addition, some analysts argue that investors may begin to be careful in taking positions ahead of EU summit and also the policy meeting European Central Bank (ECB). 

"handling of the crisis in Europe is not certain, a lot of speculation in the market, conditions that make investors tend to hold U.S. dollars to make it more secure, "he said.He added that the global financial markets are also still in trouncing negative sentiment included in the country after a warning from ratings agency Standard & Poor's over the potential "downgrade" is threatening a number of EU countries.Yet rupiah still has room on strengthening long-term trends in line with Indonesia's economic fundamentals are still positive and interest rates are still quite high.

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