Rupiah Loses More Value Against US Dollar

Jakarta (Antara) - The Indonesian currency rupiah lost more value against the US dollar in the opening trade on Thursday on absence of positive sentiment. Rupiah traded at the level of 11.649 per dollar weakening from earlier level of 11,627. Monex Investindo Futures' analyst Zulfirman Basir said investors are awaiting the release of Indonesian macro economic data expected in early May. "The domestic economic data would indicate the condition of the country's trade balance, inflation and manufacturing performance," Zulfirman said. He said rupiah might still regain strength against the dollar after expected fall of US house sales and manufacturing performance in March. The slowdown in the US manufacturing sector and shrinking house sales could force the Fed to delay plan to trim its bond buying program, he said. "Such condition could give a shirt term positive sentiment for rupiah," he said. (*)