Japan to keep close contact to RI forex<\/p>\n
TOKYO (AFP): Japanese Finance Minister Hiroshi Mitsuzuka said
\nMonday his ministry would maintain contact with authorities in
\nthe Philippines, Indonesia and Malaysia on foreign exchange
\nturbulence.<\/p>\n
"I am aware of the situation in the Philippines, Indonesia and
\nMalaysia," Mitsuzuka told a regular news conference.<\/p>\n
"Regarding these countries, we will keep in close contact, and
\norchestrate co-operation," he said.<\/p>\n
Mitsuzuka had been asked whether his ministry would offer the
\nsame assistance it promised Thailand to support its baht.<\/p>\n
The minister agreed in talks Friday with Thai counterpart
\nThanong Bidaya and Bank of Thailand governor Rerngchai
\nMarakanonda "to cooperate closely in foreign exchange markets,"
\nincluding possible Japanese intervention to support the baht
\n"when and if necessary," a senior official said.<\/p>\n
The Thai officials arrived here Wednesday on a visit to brief
\nJapanese government and business leaders on the Thai economic
\nsituation after Bangkok floated the baht July 2, which triggered
\na 20 percent drop against the dollar.<\/p>\n
Malaysia's ringgit, the Philippine peso and Indonesia's rupiah
\nhave also been subjected to heavy speculative attack.<\/p>\n
Speculators focussed on the rupiah Monday, sending it down 5.9
\npercent to 2,650 to the dollar, breaking the previous record low
\nof 2,503 struck at Friday's close.<\/p>\n
The peso opened 1.4 percent lower Tuesday against the dollar,
\ntraders said, quoting it at 28.40 to the greenback, compared to
\nthe previous closing rate of 28.00.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/japan-to-keep-close-contact-to-ri-forex-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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