Rupiah Regains Strength After Loss In Opening Trade

Jakarta (Antara Bali) - The Indonesian currency gained after losing more value against the US dollar in the first minutes of trading on Friday.

At 10.00 local time the currency traded at the level of 12,771 per dollar strengthening from the level of 12,842  after sinking from earlier level of 12,801 per dollar.

The rupiah fall in value in the first minutes of trading  was caused by Greek debt problem that weakened euro and the currencies of developing countries including rupiah.

Samuel Sekuritas' economist Rangga Cipta said rupiah regained its losses later with the fall of the US dollar following report of shrinking retail sales  and an increase in unemployment in the world's largest economy.

Rangga predicted rupiah will hover the level of 12,000 per dollar in the first quarter of this year. '

Meanwhile investors are awaiting announcement of the country current account data , he said, adding the current account deficit is expected to narrow significantly. (WDY)