Ruly Nova, a market observer from Bank Himpunan Saudara said here Wednesday the European crisis forced market players to hold dollar as a safe haven putting pressure on risky currencies including rupiah.
Rupiah traded at 9,592 to the US dollar in inter-bank transactions weakening from the level of 9,580 earlier.
The Indonesian currency, however, would not weaken further to cross the level of 9,600 as the central bank, Bank Indonesia,is expected to keep the rupiah from losing more value, Ruly said .
He said rupiah bonds still attract investors pointing to Rp5 trillion sovereign bonds offered by the government being oversubscribed by 2.4 times.
The excess in demand indicated high liquidity and and interest in the rupiah bonds, he added.
(Uu.AS/H-ASG/F001)
Editor: Priyambodo RH
Copyright © ANTARA 2012
