Kamis, 03 April 2014

Tugas B.Inggris Bisnis 2

Diposting oleh aiisyah maulida di Kamis, April 03, 2014 0 komentar

RUPIAH, BOUNDS GAIN GROUND ON FOREIGN FUND INFLOWS

          The rupiah gained ground in local trading as a rising inflow of foreign fundsinto the country’s assets helped the currency to strengthen, while slowing overseas debt save the country’s international reserves.
          The currency gained almost 3,4 percent against the dollar so far this year and the government 10-year bonds gained as their yields fell to 8,354 percent on Thursday, the lowest level since nov.8, according to Bloomberg data.
          Overseas debt slowed to 4,6 percent to $264 billion last year, from a 12 percent increase a year earlier, central bank data showed on thrusday.
          Vaninder Singh, Singapore-based economist for southeast Asia at Royal Bank of Scotland, said a narrowing-current account deficit should boost the rupiah this year.
          “I expect, at least, that the rupiah would be traded at a stable range around where it is right now for this year,” Singh said
          The currency strengthened 0,7 percent to 11.772 against dollar on Thursday, according to Bank Indonesia data. The government expected the rupiah to trade between 11.500 to 12.000 against the greenback this year.
          The current-account deficit narrowed to 2,5 percent of gross domestic product in the fourth quarter last year from 3,8 percent in third quarter.
          Singh also expect that the legislative election in April and the presidential vote in July not to create political instability, or to put pressure on the currency.
          “Because (political) institutions are stable enough for the market not to worry about it”, he said
          Foreign holdings of the country’s bonds have risen by almost Rp 14,12 trillion ($1,2 billion) alone this year to Rp 337,95 trillion in February, according to data from the debt management office of the finance ministry. That the compares with Rp 323,83 trillion by the end of December last year.
          Foreigners also bought Rp 8,4 trillion more in stocks than they have sold on the Indonesian Stock Exchange (IDX) so far this year.
          Bank Indonesia has made frequent attempts to deepen the domestic money market, including the introducing of a master repurchase agreement among local lenders in December
          The repo agreement-a securities sale allowing sellers to buy back securities at a later date- is aimed at shoring up the less-liquid domestic money market and provide foreign investors with ample counter-parties when they want to withdraw their money from Indonesia.

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Aisah Maulida
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