Indonesian Rupiah Gains on Positive Growth Outlook

The Indonesian rupiah advanced for the third day today on positive outlook for the biggest economy of Southeast Asia, caused by the inflow of foreign funds.
The government report showed last week that Indonesia’s gross domestic product grew 6.5 percent in the first quarter of 2011 from a year ago, following the growth by 6.89 percent in the fourth quarter of 2010. The currency appreciated 0.2 percent this month. Bambang Brodjonegoro, head of fiscal policy at the finance ministry, said last week that the Bank Indonesia will allow the rupiah to gain.
EUR/IDR fell from 12,289.5000 to 12,264.5000 today as of 10:18 GMT. Meanwhile, USD/IDR traded near its opening price of 8,555.0000.

If you have any questions, comments or opinions regarding the Indonesian Rupiah,
feel free to post them using the commentary form below.

Leave a Reply

Your email address will not be published. Required fields are marked *

thirteen − five =