Tuesday, April 30, 2013

Rupiah Tuesday afternoon moving steady

Jakarta (The Car Insurance Info)-the exchange rate of the rupiah against the u.s. dollar on Tuesday afternoon was still steady as market participants were still waiting for money upon policy of subsidizing fuel oil (FUEL).

The exchange rate of rupiah interbank traded in Jakarta on Tuesday afternoon move weakened the value of one point to Rp 9,718 than before (Monday, 29/4) in the position of Rp 9.717 per u.s. dollar.

"The Government is still waiting for the compensation Community Fund readiness regarding the increase in fuel prices, the conditions that make market participants await policy was applied," said Trust Securities analyst Reza Priyambada in Jakarta on Tuesday.

He added the financial market participants expect any clarity so that the negative effects that occur if FUEL subsidies offered up can be calculated.

"The Expected fuel price hike also accelerated so that the trade balance deficit could hit Indonesia, the rupiah exchange rate will be so since the trend is strengthening," he said.

Reza also said the exchange rate of the rupiah is likely to respond to a statement of the Ministry of finance found that inflation for this year could reach 5.5 percent, higher than a previous target of 4.9 percent.

Bank money market observers set of brothers, Ruly Nova adds Bank Indonesia is also still keeping exchange rate movements amid domestic FUEL subsidies that have not been announced.

"Care of the BI rate was made rupiah stable will move," he said.

He said u.s. economic growth slowed briefly depress its currency, but on the other hand the European economy still in crisis conditions is still a negative sentiment for the currency markets of Asia.

Meanwhile, Bank Indonesia Middle exchange rate on Tuesday, the rupiah was weakening thin move to Rp 9.722 than previous positions worth Rp 9.721 per u.s. dollar.

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Title Post: Rupiah Tuesday afternoon moving steady
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Author: Mohammad Zulfi Satriawan

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