Go Finance Reporting in JAKARTA - The rupiah strengthened to move back this weekend. However, it turns out stronger dollar also began to move.
Amount, according to the exchange rate of Bank Indonesia (BI) on Friday (06/10/2011) rose to Rp8.518 per USD compared with the previous trading period in Rp8.523 per USD.
Meanwhile, according yahoofinance, the rupiah is on Rp8.522 per USD with a daily trading range in Rp8.502-Rp8.522 per USD. The value of the dollar was also observed in other currencies strengthened. As a result, the euro fell to Rp1, 4472 as the USD and pound weakened to 1.6263 per U.S. dollar.
Previously, the Board of Governors (RDG) of Bank Indonesia yesterday, Thursday (09/06/2011) define BI benchmark rate at 6.75 percent fixed rate. According to the Indonesian Securities analyst Samuel Lana Soelistianingsih these decisions in accordance with the expectations of analysts and the market so neutral reaction to this decision.
BI rate could still survive because the inflation rate from January to May is still relatively low at 0.51 percent. Although the next three months there was a trend rise in inflation rate because of the seasons that the new school year in July, fasting and feast day in August.
But Lana estimate the BI rate could still survive at 6.75 percent, and there will only increase once more (25 bps) in the fourth quarter of 2011 to seven percent if inflation pressures rise. (GoFinance)
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