Sun, 01 Aug 2010

Jakarta (ANTARA News) - Bank Indonesia governor Darmin Nasution said Asian currencies are appreciating including the rupiah because economic growth in the region is better than in the US.

"This is more because data about the US economy are not as good as expected by main players and analysts while on the other hand Asia`s economy including Indonesia is good. This is what has made the US dollar to weaken against not only the rupiah bu also other Asian currencies except Thai baht," he said after signing a memorandum of understanding on coordination for maintaining financial system stability between Bank Indonesia, the Finance Ministry and the Deposit Insurance Agency (LPS), before coordinating minister for economic affairs Hatta Rajasa here on Friday.

Darmin said the Asian economy grew better than expected while recovery after crisis in the US has not been as expected by market players and analysts.

The rupiah exchange rate rose on Friday to reach Rp8,950 against the US dollar.

Darmin had said before that the rupiah would optimally stay between Rp9,100 and Rp9,150 levels against the US dollar.(*)