"With the intervention, rupiah could gain more value to reach the level of 9,600 per dollar."Jakarta (ANTARA News) - The Indonesian currency rupiah regained part of its previous losses in value against the US dollar in Thursday`s morning trade here.
The currency traded at 9,715 to the dollar strengthening from the earlier level of 9,790 on intervention by Bank Indonesia (BI).
Samuel Sekuritas` economist Lana Soelistianigsih said the Indonesian central bank intervened by withdrawing part of money from circulation .
"With the intervention, rupiah could gain more value to reach the level of 9,600 per dollar," Lana predicted.
She said the country`s foreign exchange reserves was still safe by December at US$122.8 billion or an increase of 2.41 percent from a year earlier.
The condition could push up rupiah to gaining more value against dollar, she said.
Meanwhile, Trust Securities` analyst Reza Priyambada said some of the market players tend to wait and see before the next meeting of Bank Indonesia board of governors .
They want to know what is the perception of the central bank leaders of the country`s economic outlook, trade balance and current account which are still in the red, Reza said.
In addition, the market players are awaiting a decision of the central bank on facility of one week overnight rate given to commercial banks to protect rupiah from falling lower under the weight of inflation , he said.
They also are waiting for the result of monetary meeting of the European Central Bank about benchmark interest rate, he added.
(Uu.AS/H-ASG/O001)
Editor: Priyambodo RH
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