Foreign exchange traders enjoy brisk business<\/p>\n
JAKARTA (JP): As the rupiah continued to strengthen on
\nThursday after the People's Consultative Assembly voted Hamzah
\nHaz as the new Vice President, some people rushed to sell their
\ndollars, fearing that rates would continue to fall.<\/p>\n
The rupiah closed at 9,775 to the US dollar, as against 9,960
\nbefore Hamzah's victory.<\/p>\n
According to unregistered foreign exchange traders at Pasar
\nBaru, Central Jakarta, more people had been selling dollars in
\nthe past couple of days.<\/p>\n
\"Most of them were African or Middle Eastern,\" a trader named
\nBahrum told The Jakarta Post on Thursday.<\/p>\n
\"They were afraid that the rupiah would continue to
\nstrengthen,\" he added.<\/p>\n
One foreigner, Bahrum said, exchanged as much as US$2,000.<\/p>\n
He added that the foreigners were reluctant to use official
\nmoney changers as the rates were usually lower.<\/p>\n
\"We sell according to official rates. But that also depends on
\nthe availability,\" Bahrum asserted.<\/p>\n
The strengthening of the rupiah against the U.S. dollar also
\ncaused a decrease in cellular phone prices.<\/p>\n
Shop owners at cellular phone center ITC Roxy Mas in Central
\nJakarta reported a price slump of up to Rp 200,000.<\/p>\n
A Siemens M35, for example, dropped from over Rp 1.4 million
\n($140) to Rp 1.38 million.<\/p>\n
\"The price of another cell phone reduced by around Rp 100,000
\nto Rp 200,000,\" said Mery, an employee at Sumber Phone.<\/p>\n
She added that the prices dropped since the rupiah
\nstrengthened against the dollar a couple of days ago.<\/p>\n
Kikin, owner of May Cellular shop said that even though the
\nrupiah had strengthened, sometimes it did not automatically
\naffect the price of cell phones.<\/p>\n
\"Yes, the value of the (rupiah against the) dollar influences
\nthe price. But if the supply is short, the price stays the same,\"
\nshe said.<\/p>\n
Meanwhile, at Glodok electronics center in Central Jakarta,
\nprices remained the same as before the strengthening of the
\nrupiah.<\/p>\n
According to a shop owner, though, prices are likely to
\ndecrease.<\/p>\n
\"But I think it won't be much, only around five percent, I
\nguess. At the moment the price is still the same,\" he said,
\nwithout elaborating.<\/p>\n
For a few days, due to the escalating political tension
\nleading up to the People's Consultative Assembly's Special
\nSession, business was sluggish in most parts of the country,
\nincluding Glodok. Things returned to normal after Megawati
\nSoekarnoputri was elected as the country's fifth president. (hdn)<\/p>",
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