Go Finance Reporting Jakarta - The rupiah exchange rate is projected to weaken on trade will come back this time. The reason, foreign investors appear to still be possible to remove funds from Indonesia (capital ouflow).
"We estimate the strengthening of yesterday is still fragile and temporary. Bearish trend is still quite strong due to global investors tend to be in a position of cash for better opportunities. We expect the rupiah will weaken again thin," said analyst Samuel Lana Soelistianingsih Securities Indonesia in Jakarta in his research, Wednesday (01/26/2011).
According to him, the rupiah exchange rate will be in the range of Rp9.050-Rp9.060 per USD in trading today.
Previously, the rupiah and other Asian currencies in trading yesterday closed stronger against the USD despite crude oil prices closed down earlier. Rupiah closed at Rp9.039 per USD (Bloomberg middle rates) or gained Rp28, 5.
Meanwhile, according to the prevailing Bank Indonesia (BI) on Tuesday (25/1/2011) rupiah strengthened to Rp9.052 per USD, compared to the previous day which was closed in the range of Rp9.059 per USD. And according yahoofinance, is on Rp9.042 rupiah per U.S. dollar.
Reinforcement also occurs in IHSG which closed up to 3433.91, following an increase in exchanges of Tokyo and Seoul. Meanwhile, the price of WTI crude oil is still pressed down to USD85, 14 per barrel. The weakening of oil prices brought the price reduction effect on some other food commodities, but other metal commodities are still recorded an increase. (GoFinance)
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