Go Finance Reporting JAKARTA - The global negative sentiment seemed blanketed the financial markets of Indonesia. As a result, trailed Composite Stock Price Index (IHSG) is negative, the exchange rate also became negative.
Amount, according to the exchange rate of Bank Indonesia (BI) on Wednesday (03/02/2011) weakened to as low Rp8.824 per USD, compared the previous trading day which is on Rp8.812 per USD.
Meanwhile, according yahoofinance, the rupiah also weakened to Rp8.807 per USD with a daily trading range from 0.5 to 8 .824,5 Rp8.807 per USD.
U.S. dollar exchange rate also appears to be moving mixed over other currencies. Where the euro rose to 1.3784 per USD, the yen weakened to 81.935 per USD, and weakened to 1.6252 pounds per U.S. dollar.
Samuel Securities analyst Lana Soelistianingsih Indonesia, the development of anti-government demonstrations in the Libya into civil war further complicates the situation, especially related to the continuity of Libyan oil production as the second largest OPEC producer after Saudi Arabia.
Oil prices continue to pressure Saudi Arabia despite promising to overcome the decline in supply due to Libya this crisis. The policy was apparently unable to convince the global market. Crude oil price pressures would increase the burden of inflation in Asia due at the same time food prices also increased.
The increase in world crude oil prices has also made Indonesia the price of oil reached USD112 per barrel, has an above-average assumptions in 2011 state budget that is $ 80 per barrel. If the ICP prices continue to rise to over USD120 per barrel for more than a month, the government seems to have no other choice but to raise subsidized fuel prices or remove subsidies in full. (GoFinance)
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