Rupiah Up on Rebound Signs
The rupiah strengthened slightly on Friday, extending its weekly gain, as mounting evidence the global recession is easing spurred demand for emerging-market assets.
“The rupiah’s strength is driven mostly by equity inflows and positive sentiment from the global stock markets,” said Wiling Bolung, head of treasury at ANZ Panin Bank in Jakarta. “The market also takes into account that Bank Indonesia has been intervening almost every day.” The rupiah climbed almost 0.4 percent to Rp 10,222 a dollar at 6 p.m. in Jakarta, and is up 1.6 percent on the week. Bloomberg