Jakarta (Antara) - Domestic investors have lauded Bank Indonesia's recent decision to raise its reference rate from 6.5 to 7.0 percent, according to Indonesia Stock Exchange director of company assessment Hoesen. "The decision of the central bank to raise the BI Rate has received a positive response from the market," he stated here on Friday. Hoesen said current exodus of foreign investors should be seen by domestic investors as an opportunity to boost their presence in the share market. "This is the right time for domestic investors to enter the market. They may buy shares to become majority holders in the capital market. However, we cannot force them to do that," he added. Earlier, Destri Damayanti, the chief economist of state-owned Bank Mandiri, noted that the hike in BI Rate was one of the ways to calm the domestic financial market. "The central bank took the right decision. The market has been waiting for the good news from Bank Indonesia," she said. Damayanti stated that the rupiah was likely to remain between Rp10,500 to Rp11,000 against the US dollar. She also noted that a stable rupiah exchange rate would be considered a positive sign by investors, which could revive foreign investment in the country. "If that happens, many will come to invest in Indonesia," Damayanti said. On Friday, the central bank¿s middle exchange rate rose to Rp10,924 against the US dollar, up from Rp10,936 before. (*)


Editor : Tunggul Susilo
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