Jakarta - Indonesia's rupiah continued to gain Thursday rising 10 basis points against the US dollar on higher consumer confidence. The rupiah value rose in inter-bank transactions to 9,348 per US dollar strengthening from 9358 on Wednesday. A survey by the central bank, Bank Indonesia, showed an increase in the consumer confidence in June giving a positive sentiment to the Indonesian currency, an analyst from Samuel Sekuritas Lana Sulistianingsih said . The increase was driven by optimism that business will improve next month giving higher expectation of greater business opportunities, Lana said. The survey showed that consumers believed the price rise will continue until September,e she said. "Higher optimism showed by the consumers indicates that they believe the country's economy would continue to grow strongly by more than 6 percent," she added. She said weakening US economic indicators in the second quarter of 2012 had prompted the International Monetary Fund to revise down its projection for US economic growth to 2 percent from 2.1 percent set earlier for this year. The US economic slowdown might have caused the falling value of the US dollar against rupiah, she said. However, the speculation over the plan of European Central Bank to cut its interest rate could give negative sentiment for rupiah, she said. (*)

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