Rupiah Forwards Gains for Fourth Week, Bonds Rise After Inflows
08 Feb 2013 08:24 GMT
 
Indonesia's rupiah forwards gained for a fourth week and government bonds advanced after overseas investors pumped money into the nation's assets. (more)

Indonesia's rupiah forwards gained for a fourth week and government bonds advanced after overseas investors pumped money into the nation's assets.

Foreign funds bought $391 million more local stocks than they sold this week through yesterday, the most since September, exchange data show. They added 2.41 trillion rupiah ($249 million) to local-currency sovereign debt last week, the latest finance ministry figures show. The economy expanded by more than 6 percent for a ninth quarter in the three months through December, the government reported on Feb. 5.

"The rupiah is supported by inflows into stocks and bonds on the back of solid macro fundamentals," said Wiling Bolung, the head of treasury at PT Bank ANZ Indonesia in Jakarta. "Dollar supply in the market has improved significantly from early January, giving the rupiah more room to strengthen."


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