Rupiah Gains Slightly Over US Dollar In Morning Trade

Jakarta (Antara Bali) - The rupiah value was slightly stronger  in the morning trade on Wednesday.

The Indonesian currency traded at the level of  12,145 per dollar gaining slightly from earlier level of 12,146 per dollar.

Samuel Sekuritas' economist Rangga Cipta said US data of consumer confidence  declined putting pressure on the dollar.

"However, the US GDP grew higher than expected curbing the rupiah from rising higher," Rangga said.

He said rupiah still has the potential to gain more value as the dollar is still under pressure of US economic data being not up to expectation.

In addition, the oil price is declining giving a positive sentiment for rupiah, he said.

Meanwhile, PT Platon Niaga Berjangka's analyst Lukman Leong said that market players in the country are still watching trend of inflation after the oil fuel price hike.

"So far inflation has been well under control  and the country's economic fundamental is relatively good  as the government's determination is strong in infrastructure development," Lukman said.

He hoped that the oil price would remain stable as  oil price increase would damage the positive effect of the oil fuel price hike. (WDY)