Rupiah decline not affecting economic fundamentals: BI

[Indonesia promotor]

Aditya Suharmoko , The Jakarta Post , Jakarta | Sat, 09/13/2008
9:59 AM | Business

External factors are to blame for the recent drop in the stock market
and rupiah, with the fundamentals of the economy remaining relatively
sound, the central bank has said. The rupiah has shed 3.1 percent of
its value against the dollar this month, as many stock market
investors sell their local holdings and convert gains to the dollar,
putting further pressure on the rupiah. The local currency fell 0.7
percent this week to 9,445 per dollar as of Friday, from 9,375 on
Sept. 5, according to Bloomberg. Meanwhile, the Jakarta Composite
index fell 66.07, or 3.5 percent, to 1,804.06, its lowest since March
28, 2007. It has fallen 11 percent this week, the worst since Aug. 17,
2007. More information: http://www.itpponline.biz/JKP1309081.htm