Rupiah Loses More Value Against US Dollar

Jakarta (Antara Bali) - The Indonesian currency rupiah lost more value in interbank transactions on Wednesday morning.

The currency traded at the level of 13,161 from earlier level of 13,083 per dollar.

"Rupiah has continued under pressure with strong expectation the US central bank would raise its fund rate earlier that sent the dollar higher," chief researcher of Monex Investindo Futures Ariston Tjendra  said.

The speculation is strong that the Fed would raise its fund rate  in June or earlier than originally planned in September this year, Ariston said.

In addition, there were concern over the Greek debt problem that weakened the euro and the currencies of developing economies including rupiah. "The main factors weakening rupiah are global sentiments. The domestic factors are relatively positive," he said.

Financial market observer  from Bank Himpunan Saudara, Rully Nova , said  Indonesian economic fundamentals are relatively stable giving hope that rupiah would regain strength.(WDY)