Go Finance Reporting - The rupiah strengthened following the trend appears to be moving the weakening U.S. dollar over other currencies.
According to the exchange rate of Bank Indonesia (BI), Thursday (01/13/2011) strengthening of the rupiah went into Rp9.038 per USD from the previous day at the level of Rp9.045 per USD.
Meanwhile, according yahoofinance, the rupiah is on Rp9.072, 5 per USD. Daily trading range is 0.5 to 9 .107,5 Rp9.032 per USD. Dollar weakens against the euro seems to 1.3159 per USD, and the dollar climbed against the yen to 83.035 per U.S. dollar.
Indonesian Securities analyst Samuel Lana Soelistianingsih said Brent crude oil price for delivery in February 2011 has reached USD98, 16 per barrel, getting closer to USD100 level.
The increase was due to expectations that demand increases with economic recovery in the U.S. and the EU, and is combined with a decline in U.S. crude inventories as reported by the Department of Energy.
Oil reserves in the Gulf Coast, which controls nearly half of U.S. oil refining capacity fell 7.25 million barrels to 153.6 barrels, the lowest level since 19 September 2008. This increase should be wary as the source of global inflation in 2011 is. (GoFinance)
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