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NEW UPDATES Asean Affairs  30  January 2014  

Rupiah strengthens on Wednesday afternoon

The rupiah strengthened on Wednesday afternoon by 44 points to Rp 12,153 per US dollar from Rp 12,197.

An analyst from Bank Himpunan Saudara, Rully Nova, said the strengthening of the rupiah tended to be limited in scope as market players were anticipating the results of the Federal Open Market Committee (FOMC) meeting, which will be announced on Wednesday evening.

"While waiting for the FOMC results, half of the market players have taken profitable positions after the US dollar has continued to strengthen over the last several years," Rully said on Wednesday as quoted by Antara news agency.

The analyst added that the rupiah had strengthened against the US dollar because foreign investors had entered domestic stock markets on Wednesday. However, there was a possibility of the rupiah still weakening and it was predicted that until Thursday, the local currency would move within a limited range while market players continued to assess the results of the US-Federal Reserve (Fed) policy.

Monex Investindo Futures analyst Zulfirman Basir said the sentiment of domestic financial markets was quite positive as worries about developing countries had eased after the Indian and Turkish central banks increased their benchmark interest rates.

However, Zulfirman said, the strengthening of the rupiah was temporary in nature. The next focus of financial market players would be the results of the FOMC meeting on the future of the Fed's financial stimulus.

Bank Indonesia's median rate on Wednesday recorded that the rupiah strengthened to Rp 12,154 per US dollar from Rp 12,267 on Tuesday.(ebf)

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






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