Go Finance Reporting in JAKARTA - The United States dollar (U.S.) turned towards strengthening of other currencies. As a result, the rupiah slumped this afternoon.
Amount, according to Bank Indonesia (BI) on Monday (04/18/2011) weakened to Rp8.870 per USD compared with the previous period in Rp8.661 per USD.
Meanwhile, according yahoofinance, parking at the level Rp8.672 rupiah per USD with a daily trading range in Rp8.665-8682 per USD. U.S. dollar exchange rate seem to be rallying on other currencies. Euro on the dollar weakened to 1.4353 per USD, pound weakened to 1.6278 per USD, and the Australian dollar weakened to 1.0554 per U.S. dollar.
Previously, China's central bank raised its minimum reserve requirements (WGM) the bank by 20 bps to 20.5 percent effective as of 21 April. Indonesian Securities analyst Samuel Lana Soelistianingsih explain if this policy is estimated to be approximately USD54 billion suck liquidity from the financial system. Throughout 2009 and 2010, banks have disbursed loans amounting to China 17.5 trillion yuan, making China's property prices shot and risk concerns bubble.
Previously, China's central bank also raised interest rates. Both the contraction of monetary policy is intended to reduce inflationary pressures continue to increase reaching 5.4 per cent yoy in March last year due to rising food prices, higher than the target of four percent for this year. The possibility of China will also strengthen the yuan to control imported inflation.
(GoFinance)
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