"The rupiah has been stable at the levels of 9,750-9,760 per dollar in trade today," Samuel Sekuritas` economist Lana Soelistianingsih said here on Wednesday.
The rupiah value would be shadowed by negative sentiment brought about by a deficit in the country`s balance of payments, Lana said.
The country suffers a US$6.6 billion deficit in its balance of payments as a result of US$6.7 billion placementa of foreign exchange abroad by the private sector, she said.
She said increase was still recorded in foreign portfolio and direct investments , but the capital outflows had caused deficit in net capital and financial account.
"The deficit in the balance of payments resulted in the country`s foreign exchange reserves shrinking US$8 billion in the first quarter of 2013 to US$104.8 billion by the end of March," she said.
She predicted, however, yen which tends to remain in negative area would keep rupiah strong.
Bank Himpunan Saudara`s money market observer Ruly Nova said Bank Indonesia`s protection has kept rupiah stable against dollar.
Ruly said strong Indonesian economic fundamental also contributed to the rupiah stability .
However, the government`s plan to raise the price of subsidized oil fuels will continue to threaten the rupiah stability.(*)
Editor: Heru Purwanto
Copyright © ANTARA 2013
