{
    "success": true,
    "data": {
        "id": 1406123,
        "msgid": "rupiah-slips-again-sbi-rates-unchanged-1447893297",
        "date": "1998-04-18 00:00:00",
        "title": "Rupiah slips again, SBI rates unchanged",
        "author": null,
        "source": "JP",
        "tags": null,
        "topic": null,
        "summary": "Rupiah slips again, SBI rates unchanged JAKARTA (JP): The rupiah slumped for the fourth consecutive day yesterday in response to Bank Indonesia's announcement that short-term promissory note (SBI) rates would remain at their current level, currency dealers said. They said that offshore operators, who were long in rupiah earlier this week in the hope that the central bank would raise its SBI rates from 45 percent to 60 percent, resold their rupiah after the announcement.",
        "content": "<p>Rupiah slips again, SBI rates unchanged<\/p>\n<p>JAKARTA (JP): The rupiah slumped for the fourth consecutive<br>\nday yesterday in response to Bank Indonesia's announcement that<br>\nshort-term promissory note (SBI) rates would remain at their<br>\ncurrent level, currency dealers said.<\/p>\n<p>They said that offshore operators, who were long in rupiah<br>\nearlier this week in the hope that the central bank would raise<br>\nits SBI rates from 45 percent to 60 percent, resold their rupiah<br>\nafter the announcement.<\/p>\n<p>\"Most overseas operators, especially from Singapore, bought a<br>\nsignificant amount of dollars in response to the announcement by<br>\nthe central bank,\" a local bank dealer said.<\/p>\n<p>The central bank announced that SBI rates for all maturities<br>\nwould remain unchanged.<\/p>\n<p>Dealers said the rupiah, which opened low at 8,000\/8,100 to<br>\nthe U.S. dollar, closed even lower at 8,100\/8,300.<\/p>\n<p>Yesterday's close was 3 percent lower than the rupiah's<br>\nprevious close of 8,050 the previous day.<\/p>\n<p>Currency dealers also attributed the rupiah's persistent fall<br>\nto bulk dollar buying by some Indonesian corporations to meet<br>\ntheir overseas obligations.<\/p>\n<p>They said the lack of fresh incentives in the currency market,<br>\nsuch as fresh developments at debt talks in New York on the<br>\ncountry's mounting private debts, had forced the rupiah to plunge<br>\nfurther.<\/p>\n<p>Concerns over the possibility that students will eventually<br>\nrally outside campuses has also contributed to the weakening<br>\nrupiah, they said.<\/p>\n<p>\"Political stability poses another discouraging factor for<br>\ninvestors,\" a chief dealer with a joint venture bank said.<\/p>\n<p>As the rupiah declined, the stock prices on the Jakarta Stock<br>\nExchange (JSX) fell 0.4 percent as there were no fresh incentives<br>\nin the stock market, stock brokers said.<\/p>\n<p>They said the JSX composite index fell 2.16 points to 507.90<br>\nyesterday on a total trading volume of about 452.08 million<br>\nshares changing hands on the regular market worth Rp 448.20<br>\nbillion (US$ 54.65 million).<\/p>\n<p>\"The market is very quiet as investors do not know where to<br>\ngo,\" a broker with a joint venture securities firm said. (aly)<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/rupiah-slips-again-sbi-rates-unchanged-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}