Go Finance Reporting in JAKARTA - The rupiah strengthened observed drastic this time. In contrast, the United States dollar (U.S.) observed weakening.
Amount, according to the exchange rate of Bank Indonesia (BI) rose to Rp8.548 per USD compared to the previous trading period Rp8.577 per USD.
According yahoofinance, the rupiah strengthened to Rp8.567 per USD with a daily trading range in Rp8.547-Rp8.580 per USD. This evening is also the value of the dollar looks weak for other currencies.
The euro rose to 1.4426 per USD, pound rose to 1.6371 per USD, and the Australian dollar strengthened to 1.0777 per U.S. dollar.
Indonesian Securities analyst Samuel tells Lana Soelistianingsih adage "sell on May and go way" into a kind of informal signals among the managers of global market investments by selling their portfolios before the sabbatical (summer vacation).
In May this time, beginning with the correction in commodity markets including crude oil after the terrorist Osama in Pakistan was shot dead last Tuesday (05/03/2011). At the same time less encouraging U.S. economic data such as economic growth in Q1 is below estimates and jobless claims that the above estimates.
Investors realized a gain of about 23 percent of commodity markets into cash assets (USD) to make the dollar strengthened, especially against Asian countries. Commodity prices have drastically downward pressure on trading yesterday, especially the price of crude oil and silver. Selling in the month of May is only temporary and usually recover in July. (GoFinance)
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