Go Finance Reporting - The rupiah seems no change in the trade this time. In fact, the United States dollar (U.S.) seem to be rallying on a number of major world currencies.
According to the exchange rate of Bank Indonesia (BI), is in a position Rp8.976 rupiah per USD, stagnant when compared with the previous trade. Meanwhile, according yahoofinance, the rupiah is on Rp8.977, 5 per USD, with the trading range from 0.5 to 8 .985 Rp8.77 per USD.
United States Dollars (U.S.) is also moving to strengthen over the other world major currencies. This afternoon, the euro sank to 1.335 per USD, while the yen to as low as 82.195 per U.S. dollar.
Meanwhile, according to Indonesian Securities analyst Samuel Lana Soelistianingsih, Sanford C. Bernstein & Co. estimates that crude oil prices in 2011 will reach an average of USD90 per barrel, while several other predictions estimate the oil price could reach U.S. $ 100 per barrel, even oil analyst at Morgan Keegan & Co. estimates oil prices move with a range between USD75-USD120 per barrel.
The estimate is based on the high demand for energy will still be sourced from China. Chinese economy is predicted to grow nine percent in 2011. China's economic growth was three times higher than expected U.S. economic growth, six times higher than expected economic growth in the European Union.
Bernstein analyst also predicted OPEC will increase production in line with expectations of rising prices and will reduce the spare capacity (unused capacity) so that the increase somewhat restrained. Moreover, this price hike could backfire global economy that is undergoing restoration, so the increase will be captured. (GoFinance)
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