Rupiah Gains Agains US Dollar

Jakarta (Antara) - The Indonesian currency, rupiah, gained slightly against the US dollar on Monday shored up by yen appreciation. Rupiah traded at the level of 9,655 strengthening from 9,660 earlier in inter-bank transactions here on Monday morning. In addition to the yen appreciation, data about China's trade balance being beyond expectation also contributed to the rise in the rupiah value,Trust Securities' analyst Reza Priyambada said. Positive sentiment was also brought about by euro stability against the US dollar after the statement by the European Central Bank that Europe was on its way to recovery. "The rupiah gained strength in the past week to stay below the level of 9,700 per dollar," Reza noted. He said the market players described as positive the policy of Bank Indonesia (BI) in helping direct foreign exchange trade to keep the rupiah relatively stable. (*)