Rupiah Thursday (10/12) were potentially depressed. The strengthening of the dollar due to economic conditions are deteriorating European region, raised the currency of this superpower.
Fauzan Alamsyah forex analysts predict, the opportunity to stress the rupiah is still open today. Mainly triggered strengthening U.S. dollar, due to worsening conditions in Europe. “Rupiah will trade in the range of 9450-9500 per dollar,” he said Wednesday (9 / 12) evening.
According to him, strengthening the rupiah yesterday happened, because the pure intervention by Bank Indonesia (BI). The reason the U.S. dollar had rebounded to its highest level for 1-month euro. The BI intervention is needed to prevent exchange rate volatility, especially to reduce anti-corruption demonstration which runs the country yesterday.
However, the strengthening of the rupiah also helps increase demand for payment of corporation tax in the middle of this month. “These tax payments will help the rupiah,” he added.
Dollar rises rapidly due to losses on Dubai developer worth U.S. $ 3.65 billion, in which dozens of European banks are expected to report liquidity problems. It also downgrade the debt (credit rating) Greece became grade BBB + from grade A with a negative outlook.
This is the first time in 10 years, Fitch’s rating placed Greece on the grade ratings on A. This followed reports Standard & Poor’s that Greek banks face the highest risk in the region of Western Europe.
“It shook the stock market and European currency, the euro continues to distress and pounds. Investors chose to go out and find a safe in the dollar, “he continued.
However, for the long term, the dollar will still be depressed, the news that the U.S. central bank the Federal Reserve will extend the low interest rates until the end of 2010. The strengthening dollar have only limited speculation.
On the other hand, Suryanto Chang, Head of Treasury Division of Bank NISP estimates, the rupiah today will strengthen over the weakening U.S. dollar against all major currencies. “Rupiah will move in 9420-9460 range,” he said when contacted separately.
Rupiah also potentially strengthened, following a controlled situation of anti-corruption demonstration day yesterday. This damping concern among market participants, so they dare to come back transactions. “They will go back into position, so that the rupiah strengthened,” he said.
Meanwhile, the currency of Indonesia also has the support of the movement of stock indices are expected to strengthen today. The trigger is re-emergence of regional and global markets after experiencing a technical correction in the trade yesterday. “That is, the market returned to normal and the capital inflow occurs in the domestic market,” he concluded.
Exchange rate of rupiah in the foreign exchange spot market interbank Jakarta, Wednesday (9 / 12) close higher 5 points (0.052%) against the U.S. dollar.