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EXCHANGE RATE OF INDONESIA'S RUPIAH EXPECTED TO REMAIN STABLE.
BANDUNG, W Java, June 3 Asia Pulse - The rupiah's exchange rate against the US dollar is likely to remain relatively stable over the next couple of months, Bank Indonesia governor Syahril Sabirin said over the weekend.
Syahril said the prediction was based on various factors, including the decreasing need for US dollars to cover foreign debts and import financing.
He made the prediction in his general lecture to post-graduate students of the Padjadjaran University.
He said the good dollar supply would be supported by the disbursement of funds from the International Monetary Fund, the divestment of bank shares and the privatization of state enterprises.
"Besides, the export performance is expected to improve in line with the hike in international oil price and the improved economic condition in the United States," he said.
Seen from the point of view of market sentiments, he explained, the strengthening of the rupiah's exchange rate would be enhanced by the government's success in negotiating the rescheduling of government debts to commercial banks/creditors in the next London Club forum.
Other encouraging factors, Syahril ...
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Source: HighBeam Research, EXCHANGE RATE OF INDONESIA'S RUPIAH EXPECTED TO REMAIN STABLE.