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Sunday, February 23, 2014

Rupiah Monday morning at Rp11.705 position .

Rupiah Monday morning at Rp11.705 position .

 The rupiah traded among banks in Jakarta on Monday morning rose 25 points to Rp11.705 than ever in a position Rp11.730 per U.S. dollar .

" The rate of the rupiah is still showing appreciation is supported by some positive data among domestic Indonesian balance of payments ( BOP ) surplus in the fourth quarter of 2013, which amounted to 4.4 billion U.S. dollars , " said the Head of Research of the Trust Securities , Reza Priyambada today in Jakarta .

He argues , Indonesia 's balance of payments improvement of sustained current account deficit declined sharply to 4 billion U.S. dollars, or 1.98 percent of GDP .

On the other hand , he added , the rate of the U.S. dollar is also still showing weakness against major world currencies , especially after market participants respond to the decline in U.S. manufacturing .

Nevertheless, Reza said , the rate of the rupiah overshadowed profit taking , in addition to the money market players are also concerned about the release of a revised law that would tighten policy minerba ban on exports of raw materials so that they can disrupt the balance of trade

Analysts Futures Monex Investindo , Zulfirman Basir added U.S. data varies assuage investor concerns over the projected reduction in fiscal stimulus policies ( tapering off ) the Fed .

" U.S. sentiment was positive encouragement for currencies of developing countries , including the rupiah . Rupiah is likely to trade in the range of Rp11.655 - Rp11.770 per U.S. dollar today , " he said .

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