"US dollar is still seen a safe haven for the financial market investors amid the European slowdown," analyst said.Jakarta (ANTARA News) - The Indonesian currency rupiah lost more of its value against the US dollar in Friday`s opening trade on continued worries about European debt crisis.
Rupiah traded at 9,570 to the US dollar in inter-bank transactions losing 10 points from the level of 9,560 in Thursday`s close.
"Concern over condition in Europe held investors from buying risky currencies," Ariston Tjendra, the chief researcher of Monex Investindo Futures, said.
Investors are hedging their investment by placing funds in dollar under volatile condition, Ariston said.
"US dollar is still seen a safe haven for the financial market investors amid the European slowdown," he said.
He said the euro also is under pressure with the declining service and manufacturing sectors in that region.
Samuel Sekuritas analyst Lana Soelistianingsih said minimum domestic sentiment also contributed to the rupiah fall.
However, continued inflows of foreign funds to the country helped rupiah from sinking deeper. (*)
Editor: Heru Purwanto
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