Indonesian Rupiah is a Buy
Indonesian Rupiah is a Buy
Economist Shayne Heffernan has upgraded the Rupiah to a buy as the currency has slipped on inflation and interest rate concerns.
The rupiah spot’s indicative prices slid 0.5 percent to 9,700 per dollar on exchange pages, but its real prices were softer with 9,850-9,870 traded, dealers said. One-month dollar/rupiah rose 0.6 percent to 9,930, its highest since September 2009. That came before the central bank is expected to keep its benchmark rate unchanged at a record low of 5.75 percent later in the day.
Most economists in the survey also saw Bank Indonesia holding the deposit facility rate, or FASBI, at its current level of 4 percent this time, although they expect gradual increase.
“Should it fail to hike the FASBI rate again, as it did in August by 25 bps to 4.25 percent, it will send a negative signal to the currency market and add to negative downside volatility,” said Sacha Tihanyi, senior currency strategist for Scotiabank, in a research note.
Five-year bond yields rose to 4.713 percent and three-year yields rose to 4.756 percent, as foreign investors sold government debt. A government bond sale on Jan. 15 is unlikely to attract huge inflows, unless Indonesia act to reduce concerns over inflation and its current account deficit, dealers and analysts said.
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Heffernan Capital Management
Linda Johnson,
Business Development Director – Private Client Group,
Sales@Heffcap.com
Singapore
3 Raffles Place #07-01
Bharat Building Singapore 048617
Tel: +65 6329 6408
Fax: +65 6329 9699
Shayne Heffernan Ph.D.
Economist/Hedge Fund Manager
Shayne Heffernan oversees the management of funds for institutions and high net worth individuals. He is also an active consultant working with Corporations around the World.
He is recognized as one of the leading Economists in South East Asia, as well as the preeminent authority on ASEAN. His opinions and forecasts are widely read by decision makers in the region and Internationally.
Shayne Heffernan holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reached a peak of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.
Member
Chinese Society of Economists
American Economic Society
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Guest: bztg, come on shane, lite this puppy up. been waiting too long lets go!!!
Tue, 04/30/13 | 0 Comment
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Guest: gsat get it now. if u snooze u lose
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