Rupiah Closes Stronger Against US Dollar

Jakarta (Antara Bali) - The Indonesian currency rupiah closed stronger at 9,687 per US dollar on Wednesday afternoon on positive external sentiment.

The currency gained 31 points from 9,718  per dollar earlier in interbank transaction, on Chinese trade data being as expected by the market players, market analysts said.

"Chinese trade data served as a catalyst to prop up exchange rates of Asian currencies including rupiah," Ruly Nova, a market observer from Bank Himpunan Saudara, said here on Wednesday.

Ruly said the global bond recently issued by the government also gave a boost to rupiah .

Samuel Sekuritas' economist Lana Soelistianingsih said the  rupiah rise this week against the US dollar  was a short lived gain.

It would not last long with the decline in fundamental support from foreign exchange reserves, which have been used to buy the currency from the market to keep it from falling. (IGT)