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Indonesian central bank predicts rupiah to be strengthened against USD
POSTED: 10:56 a.m. EDT, June 9,2007
The Indonesian Central Bank (Bank of Indonesia) forecast that the value of the rupiah against the U.S. dollar would be stronger soon, bank official Budi Mulya said here Friday.

Mulya, who is director of strategic planning and spokesman of the bank, told reporters at the bank that the weakening of rupiah against U.S. dollar now would not poorly affect the country's economy.

He said that the weakening was temporary and caused by the weakening of the regional currencies and the action of profit taking conducted by investors, which is usually carried out at week end.

"This is only temporary. We hope it will improve immediately," he said.

The rupiah value against the U.S. dollar came to 9,050 on Friday.

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