The rupiah appreciated 10 points to Rp8,630 per US dollar from Rp8,640 at the market`s close the day before.
PT Bank Mega Tbk Retail Banking Director Kostaman Thayib said here on Thursday the continuing positive regional sentiment was able to re-boost the rupiah`s rate.
"We have also predicted that the rupiah will strengthen again, because the positive factors are expected to continue," he said.
Kostaman said the Rupiah was likely to reach the Rp8,600 per dollar level if the positive external factors continued to encourage active local market players to buy US dollars.
"The rupiah is just a step away from reaching Rp8,600 per dollar," he said.
The external positive factors that occurred recently, especially from Wall Street where the index increased significantly, after a number of issuers tended to issue a positive financial performance.
For example, Johnson and Johnson, beyond the market participants` estimation, managed to achieve significant net profits which encouraged active market participants to buy its shares, he said.
The Indonesian stock market is likely to remain positive throughout this Thursday which seen with the active players in buying the Indonesian currency rupiah on Wednesday and has increased significantly, Kostaman said.
"We are optimistic that rupiah is still able to rise again," he said.(*)
A050/HAJM/F001
Editor: Jafar M Sidik
Copyright © ANTARA 2011
