Wednesday, May 9, 2007

Rupiah Rises as Central Bank Is `Not Worried'; South Korean Won Declines

(Bloomberg) -- Indonesia's rupiah gained to the strongest in almost a year after the central bank said it's not worried about the currency's appreciation.

The rupiah reversed losses after Governor Burhanuddin Abdullah said exporters and importers are comfortable if the currency trades between 8,500 and 9,500. The rupiah has advanced 2.9 percent in the past five days, the best performer among the 15 most-traded Asia-Pacific currencies, on speculation Bank Indonesia will let it rise faster.


Read more at Bloomberg Currencies News

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