Drawn by the lure of some of Asia’s best shopping and buoyed by a resurgent rupiah, 20-something Indonesian Dewi Lestari was ready to spend when she set foot in Singapore for the first time this month.
“The exchange rate is pretty good and Singapore’s a shopping paradise,” said Lestari, an administrative assistant at a car workshop, as she arrived at the ferry terminal after flying to Batam from her home in Jakarta. “That’s the only reason why I’m here.”
The rupiah has surged 9.6% against the US dollar over the past six months, behind only Brazil’s real and Malaysia’s ringgit among emerging markets, as slowing inflation and a nascent commodity-price recovery lured money to the nation’s assets. HSBC Holdings Plc raised its year-end forecast for the rupiah by 7.4% this month, saying the worst is over for Southeast Asian currencies as relatively high yields and a more dovish Federal Reserve would ensure demand for the region’s assets.
“The rupiah has done really well this year and it makes things look cheaper elsewhere for Indonesians,” said Nizam Idris, head of foreign-exchange and fixed-income strategy at Macquarie Bank Ltd. in Singapore. “The currency will find support from decent yields and bottoming commodity prices.”
Macquarie, the second-most accurate forecaster for emerging-mar
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
“The exchange rate is pretty good and Singapore’s a shopping paradise,” said Lestari, an administrative assistant at a car workshop, as she arrived at the ferry terminal after flying to Batam from her home in Jakarta. “That’s the only reason why I’m here.”
The rupiah has surged 9.6% against the US dollar over the past six months, behind only Brazil’s real and Malaysia’s ringgit among emerging markets, as slowing inflation and a nascent commodity-price recovery lured money to the nation’s assets. HSBC Holdings Plc raised its year-end forecast for the rupiah by 7.4% this month, saying the worst is over for Southeast Asian currencies as relatively high yields and a more dovish Federal Reserve would ensure demand for the region’s assets.
“The rupiah has done really well this year and it makes things look cheaper elsewhere for Indonesians,” said Nizam Idris, head of foreign-exchange and fixed-income strategy at Macquarie Bank Ltd. in Singapore. “The currency will find support from decent yields and bottoming commodity prices.”
Macquarie, the second-most accurate forecaster for emerging-mar
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
0 comments:
Post a Comment