Rupiah Strengthens 30 Points

LAMPUKUNING- RUPIAH exchange-rate strengthened 30 points versus the US dollar in the closing at the Jakarta interbank spot market today (Thursday 30/7) at IDR9,965 compared to Wednesday's (29/7) at IDR9,995 per US dollar.
"Rupiah appreciation today was sparked by positive activities in the stock market as share prices were up," foreign currency analyst Tony Mariano said. He said further that investors sold the US dollar today for buying shares.
Besides, he said, rupiah appreciation today was due to optimisms that the inflation will remain low in July. "Expectations of July inflation has triggered rupiah appreciation today," he said. Even traders are confident that Indonesia's economy will grow positively in 2009, he said. He expects rupiah to consolidate at IDR9,950-9,900 in Friday's (31/7) trading.
Likewise, rupiah appreciated against the other foreign currencies today and the rate versus the Singapore dollar strengthened at IDR6,908.49 from 6,946.75, as the rate versus the Hong Kong dollar appreciated at IDR1,287.72 from 1,292.88, but the rate versus the Australian dollar depreciated at IDR8,223.02 from 8,220.41 and the rate versus the euro appreciated at IDR14,039.86 from IDR14,173.79. [E-BURSA]