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Forex - Flows - USD/IDR steady, stuck above 8900; Need for synergy between BI, govt
Written by article default Monday, 15 November 2010 09:51
USD/IDR trades established foothold above 8900 handle; tested 8925-8936 range yet so far. Choppy EUR moves and likelihood of authorities' stepping up measures to buy back bonds in the event of a sudden capital outflows, seen triggering caution at base. Dips to witness takers, with activity expected to be confined within 8920-8945 band intraday. Central bank keen on maintaining vigilance on either side of trade to curtail volatility. Local press meanwhile cited Deputy State Min Widjojo said there was need to create a synergy between BI and the govt to ensure domestic stability; BI to rein in IDR and keep inflation in control while the govt manage capital inflows to ensure funds availability to the real sector.