Go Finance Reporting - United States dollar exchange rate (U.S.) seems to have eroded step weakening China raised interest. As a result, the rupiah strengthened, too.
Amount, according to the exchange rate of Bank Indonesia (BI) at the end of trading Monday (27/12/2010), close higher to Rp9.041 per USD, down from last weekend in Rp9.048 per USD. Meanwhile, according yahoofinance, the rupiah is on Rp9.040 per USD with a daily trading range in the 0.5-Rp9 Rp9.027 .040 per USD.
Meanwhile, the U.S. dollar also weakened against the euro seems to 1.3151 per U.S. dollar. Same as the yen strengthened to U82.745 per USD.
Indonesian Securities analyst Samuel Lana Soelistianingsih in China's central bank said his research raised its benchmark interest rate by 25 bps for loans of one year to 5.81 percent, while one-year deposit rate to 2.75 percent.
This increase is the second time since mid-October, in an attempt to restrain the rate of inflation which reached 5.1 percent yoy in November, the highest in 28 months, so that expected inflation in 2010 will exceed 3.3 percent as targeted.
At the same time China's exports reached a record USD153, 3 billion in November due to the recovery of international trade from the global financial crisis. Due to export surplus, China's foreign exchange reserves will be higher and making the yuan undervalued (estimated up to 40 percent).
This rate hike, said Lana is not necessarily to reduce inflation because the increase at the same time China exports spur of capacity utilization resulted in higher production costs increased, including the pressure on wage increases, except for China to reduce production capacity and strengthen the yuan. (GoFinance)
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