The Car Insurance Info : Economist: positive for rupiah redenomination banking

Redenomination would reduce hardware and software adjustments in accommodating large numbers of digits. Currently, the ability of a computer can only accommodate 15-digit numbers, while the STATE BUDGET has reached 16 digits, "

Jakarta (The Car Insurance Info)-the re-denomination rupiah will give a positive impact to the world banking because of economic efficiency will be particularly-digit number is getting smaller, says an economist.

"Redenomination would reduce hardware and software adjustments in accommodating large numbers of digits. Currently, the ability of a computer can only accommodate 15-digit numbers, while the STATE BUDGET has reached the 16-digit, "said Bank Mandiri Chief Economist Destry Damayanti in Jakarta on Tuesday.

Bank Mandiri, said Destry, transactions per day reached the Rp40 trillion, while its overall banking transactions in Indonesia already reach Rp400 trillion per day.

When the rupiah denomination not simplified, while increasing transaction and value is getting bigger, Destry says information technology systems in the banking and other computer certainly will "hang".

"For the world of banking, the redenomination will definitely give rise to costs. But cost is not significant. Thus the greater benefits, "he said.

Therefore, Destry exposes redenomination will create efficiencies in the process of recording, storage, management and reporting of data in the financial statements or statistics.

"Re-denomination is also reducing the barriers and constraints of technical possibilities of human error in the process of bookkeeping transactions or other statistical activities," he said.

On the other hand, Destry says the perception or belief communities against the rupiah will also be higher because prices change on a narrow range. Redenomination is also reducing the risk of "currency substition" which further supports a more stable rupiah.

"For the people of Indonesia, the redenomination will also support economic equality with other precincts in the era of the ASEAN economic community by 2015. Currently, the rupiah denomination is very high when compared to other ASEAN countries, "he said.

Destry Damayanti was one of the speakers at the Seminar ", Indonesia ready to face the Re-denomination?" held the set Student Study Accounting scandal Perbanas Institute at the Auditorium scandal Perbanas Jakarta.

In addition to the other speaker is Destry, Executive Director of the Center for Educational Research and the Central Bank Bank Indonesia Iskandar Simorangkir and economic experts University of Indonesia Jakarta Telisa Aulia Falianty. (*)

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Rupiah stable as economic fundamentals are positive

Jakarta (The Car Insurance Info)-the exchange rate of the rupiah against the u.s. dollar is likely to move on this week plateaued over Indonesia's economic fundamentals are still relatively positive.

The exchange rate of rupiah interbank traded in Jakarta on Thursday afternoon move weakened the value of six points to Rp 9.726 than previously (1/5) in position $ 9.720 per u.s. dollar.

"The exchange rate of the rupiah against the u.s. dollar remained stable, the perception that Indonesia's economic fundamentals are still good resist weakening further," said Economist Samuel securities, Lana Soelistianingsih here on Thursday.

He added foreign funds still continued to enter the regional Asia including to Indonesia will push economic growths. New foreign funds that entered were marked by rising asset prices in Asia including property and shares.

"Although Asian economies is still regarded as the motor of the world economy, but the IMF also warned the possibility of ' overheating ' economy. It is usually characterized by high economic growth coupled with high inflation, "he said.

He suggested the IMF retained the Asian economies grew by 7.1% to support the economic growth of China, India, and Indonesia.

"We expect the rupiah exchange rate to move in a narrow range between Rp-Rp 9.710 9.740 per u.s. dollar," he said.

Meanwhile, Bank Indonesia Middle exchange rate on Thursday, the rupiah recorded move strengthened to Rp 9.728 than previous positions worth $ 9.730 per u.s. dollar.
(KR-ZMF/B008)

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Observers: Asian currencies hold the strengthening rupiah

Jakarta (The Car Insurance Info)-economists Lana Soelistianingsih says Asian currencies are likely to weaken into a factor of tertahannya rupiah to strengthen against the u.s. dollar.

The exchange rate of rupiah interbank traded in Jakarta on Thursday morning moving weakened thin value to Rp 9.722 than before (Wednesday, 1/5) in position $ 9.720 per u.s. dollar.

"The sentiment of Asian currencies into rupiah at the level tertahannya factors. The Rupiah would still be stable, there is no significant sentiment affecting the domestic exchange rate movement, "said economists from Samuel securities, Lana Soelistianingsih here on Thursday.

He argued Japan yen as Asia's major currencies weakened but still maintained the movement tend to slow down when approaching 100 yen per US dollar.

He added the planned increase in the price of fuel oil (FUEL) subsidies supporting the stability of rupiah with ekspaktasi may reduce the demand for imported oil that had considerable pressure.

"The rise in fuel price subsidies also could help the health budget of the Government. If it is not raised, the STATE BUDGET deficit up to 2013 is expected to be 3.8 percent of GDP because consumption quotas assigned by 47 million tonnes estimated to be passed, "he said.

In addition to the deficit, further enlarged budget Lana, dikawatirkan also adds to the deficit in transactions running. Twin deficit it could change perceptions of Indonesia's economic fundamentals are still relatively good at this time.

Meanwhile, Lana says foreign ownership position in bond (SUN) have also continued to record increases. In the fourth week of April, there was an increase in foreign holdings amounted to Rp13,91 trillion to Rp294,66 trillion. From the stock market, buy a foreign registered neto went up by 40,9 million u.s. dollars.

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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.
(KR-ZMF/S025)

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