"Protection by Bank Indonesia allowed the rupiah to rise," market observer Rully Nova said.Jakarta (ANTARA News) - The Indonesian currency gained today 10 points against the US dollar on protection by the central bank, Bank Indonesia (BI).
Rupiah closed at 9,610 to the dollar gaining from 9,620 in interbank transaction this afternoon.
"Protection by Bank Indonesia allowed the rupiah to rise," market observer Rully Nova from Bank Himpunan Saudara`s said here on Monday.
Rully said the Indonesian central bank is expected to continue protection for the currency to keep its stable.
He said the sentiment in the market is changing easily and the market players chose to wait and see whether the United States extends or accelerated its third quantitative ease policy.
"If the QE is extended the US dollar will likely to weaken," he said.
However, growing Indonesian imports will keep demand for dollar strong bringing pressures on rupiah, he said.
Monex Investindo Futures` researcher Ariston Tjendra said rupiah is still under pressure by October`s fall of European manufacture data.
The European crisis is worsening with spending tightening signalling continued global slowdown, he said.(*)
Editor: Heru Purwanto
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