Rupiah Loses More Value

Jakarta (Antara Bali) - The Indonesian currency rupiah lost 28 points of its value against the US dollar in inter-bank trade this morning  on market fears of worse global economic slowdown.

Rupiah traded at 9,578 to the dollar weakening  from the level of 9,550 on growing pressure on risky currencies including rupiah, analysts said.

Monex Investindo Futures analyst Ariston Tjendra said the weakening of  euro signaled the fall of rupiah.

Ariston said  the market attentions are still drawn to  development in  Spain, which has been expected to decide to submit request for bailout fund.

Meanwhile, Samuel Sekuritas analyst Lana Soelistianingsih said the meeting  between the German and French leaders last weekend failed to come to an agreement to form a banking union.(IGT)