Trade

Gapura Prima suggests people to sell US dollars and buy property

The rupiah exchange rate which had penetrated Rp. 15,000 per US dollar, apparently did not have a significant impact on the financial performance of PT Gapura Prima Tbk (GPRA). Moreover, the company does not have debt in the form of foreign currency, especially the US dollar.

“We do not have exposure in US dollars, because we do not have a bank loan also in US dollars,” said GPRA Managing Director Arvin Fibrianto Iskandar, Friday (21/9), as reported by Kontan.co.id.

He said, indirectly, the impact of weakening rupiah affected property sales. These conditions make investors prefer to wait and see, rather than buying property.

Even so, Arvin appealed to holders of US dollars to immediately sell US dollars and buy property. Considering, now is the right time, seeing the movement of the rupiah exchange rate can be estimated at its upside level.

“Except if the dollar / rupiah is overshooted and can be up to Rp. 20,000 per US dollar,” he said.

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