Rupiah higher on suspected BI intervention<\/p>\n
Dow Jones, Jakarta\/Singapore<\/p>\n
The Indonesian rupiah ended higher against the dollar Friday
\non suspected central bank intervention, dealers said.<\/p>\n
The dollar closed at Rp 10,400, down from its close Thursday
\nat Rp 10,480.<\/p>\n
Suspected intervention by Bank Indonesia - both directly and
\nindirectly through state banks - pushed the dollar to an intraday
\nlow of Rp 10,325 midmorning. However, fresh dollar purchases late
\nafternoon by local companies helped the U.S. unit recover some
\nground.<\/p>\n
Dealers said the market has fully discounted news that
\ninternational lenders Thursday pledged up to US$3.1 billion of
\nloans to Indonesia to support its 2002 budget.<\/p>\n
Still, the government will have to struggle to finance the
\n2001 state budget as it is almost certain that it will unable to
\nraise Rp 6.5 trillion this year from selling state-owned
\ncompanies.<\/p>\n
Other Asian currencies were mixed late Friday, with
\nintervention by the central banks in South Korea and Taiwan
\nkeeping a rein on the continued strengthening of their respective
\ncurrencies, dealers said.<\/p>\n
The Japanese yen's overnight bounce gave an added fillip to
\nthe South Korean won and the New Taiwan dollar, both of which
\nhave propped up by foreign portfolio inflows in recent weeks. In
\ncontrast, their Southeast Asian counterparts had wobbled on
\neconomic and geopolitical anxieties.<\/p>\n
At 0815 GMT (3:15 p.m. Jakarta time), the dollar was quoted at
\n120.22 yen, above 119.99 yen late Thursday in New York. The
\ndollar was at 121.00 yen late Thursday in Tokyo.<\/p>\n
The dollar finished at 1,283.1 won in South Korea, lower than
\n1,281.1 won Thursday.<\/p>\n
In Taiwan the U.S. dollar ended at its intraday high of
\nNT$34.500, slightly lower than Thursday's NT$34.510.<\/p>\n
The Singapore dollar closed at S$1.8265 to the U.S. dollar,
\nhigher than S$1.8169 late Thursday.<\/p>\n
In the Philippine the U.S. dollar closed at its intraday high
\nof 51.915 pesos on the Philippine Dealing System, up from 51.750
\npesos Thursday.<\/p>\n
The Thai currency was marginally weaker at 44.495 baht to the
\nU.S. dollar, compared with 44.480 baht late Thursday.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/rupiah-higher-on-suspected-bi-intervention-1447893297",
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