Go Finance Reporting in JAKARTA - The rupiah bounce back following a weakening United States dollar (U.S.). Value of the dollar seemed to fizzle out after a statement from the governor of the Fed.
Rupiah, at the close of trading Thursday (04/28/2011) moves to strengthen Rp8.593 per USD compared to the previous day's trading Rp2.625 per USD.
Meanwhile, according yahoofinance, the rupiah strengthened through the levels Rp8.600 per USD at the level of Rp8.575 per USD with a daily trading range in Rp8.575-8625 per USD. The dollar also seemed depressed over other currencies. The euro strengthened against the dollar to 1.4846 per USD, pounds gained per U.S. $ 1.6688 and the Australian dollar rose 1.0928 per USD.
Indonesian Securities analyst Samuel tells Lana Soelistianingsih end quantity easing (QE) II will not affect much. Governors of the Fed in the first press conference that was held after the FOMC meeting stated that the Fed will complete the program purchase bonds worth a total $ 600 billion in June.
And the end of the QE2 policy is unlikely to much affect the financial markets and U.S. economy, and provides a signal that monetary policy expansion will still continue after June until conditions in the labor market continued to improve and make sure to start a tight monetary policy.
The Fed projected that the unemployment rate at year end 2011 will reach 8.4 percent, and for the year 2012 there will be between 7.6 percent-7, 9 percent. In yesterday's FOMC 27 April, the Fed still keep interest rates in the range of 0 to 0.25 percent FFR since December 2008. (GoFinance)
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