Jakarta (ANTARA News) - The Indonesian currency rupiah lost more value in the opening trade on Tuesday as market players still looking for safe haven in the US currency .

Rupiah trade at 9,830 per US dollar losing 32 points from the level of 9,798 earlier.

Money market observer Ruly Nova from Bank Himpunan Saudara, said under the prevailing global condition investors chose to invest in US dollar as a safe haven.

Negative external sentiment is stronger in determining the decision of investors than domestic positive sentiment by fairly good economic growth, Ruly said here on Tuesday.

However, the plan to raise the prices of subsidized oil fuels is expected give a greater boost for rupiah later, he added.

"The subsidized oil fuel price hikes are expected to cut deficit in the country`s balance of payments," he said.

In addition, Bank Indonesia (BI) is still active in protecting rupiah, he said.

Meanwhile, Trust Securities` chief researcher Reza Priyambada said rupiah has failed to extend gain on positive US data.

"A number of positive US data gave a boost to the US dollar though curbed by the rising yen," he said.(*)

Editor: Heru Purwanto
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