The exchange rate of the rupiah against the U.S. dollar continued pressure, including estimated to occur at the beginning of the week, Monday (22/10/2012). European conditions of uncertainty and importers demand on the U.S. dollar made the rupiah continued to decline.
In late trading on Friday (10/19/2012), the rupiah was at Rp 9592 per U.S. dollar, down from the moment it opened at Rp 9579 per U.S. dollar. Dollar moves in the range of 9579-9595.
Closing of the stock exchange composite index in the red zone helped escalate the U.S. dollar against the rupiah last weekend. Bank Indonesia still looks active intervention to reduce the pressure the U.S. dollar against the rupiah.
At the beginning of this week, according to research BNI Treasury, potentially moving rupiah weakened consolidation trend. In the non-deliverable forward 1 month in offshore markets this morning, opened up the rupiah at Rp 9660-9675 per U.S. dollar, and is expected to sustain the exchange rate today.
However, the EU leaders meeting in Brussels on Friday, who has not managed to convince investors of the uncertainties particularly Spain and Greece received bailouts-are expected to escalate the movement of the U.S. dollar as a safe-heaven currency today.
Demand for foreign exchange by importers is also projected to increase by the end of the month. Preparedness Bank Indonesia is expected to hold further weakening rupiah.
In late trading on Friday (10/19/2012), the rupiah was at Rp 9592 per U.S. dollar, down from the moment it opened at Rp 9579 per U.S. dollar. Dollar moves in the range of 9579-9595.
Closing of the stock exchange composite index in the red zone helped escalate the U.S. dollar against the rupiah last weekend. Bank Indonesia still looks active intervention to reduce the pressure the U.S. dollar against the rupiah.
At the beginning of this week, according to research BNI Treasury, potentially moving rupiah weakened consolidation trend. In the non-deliverable forward 1 month in offshore markets this morning, opened up the rupiah at Rp 9660-9675 per U.S. dollar, and is expected to sustain the exchange rate today.
However, the EU leaders meeting in Brussels on Friday, who has not managed to convince investors of the uncertainties particularly Spain and Greece received bailouts-are expected to escalate the movement of the U.S. dollar as a safe-heaven currency today.
Demand for foreign exchange by importers is also projected to increase by the end of the month. Preparedness Bank Indonesia is expected to hold further weakening rupiah.
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