The rupiah edged up 68 points to close at 11,372 per dollar on Monday evening, compared with 11,440 per dollar earlier.
"The domestic money market is convinced that the political situation will be conducive, so this has a positive impact on the rupiah," money market analyst Lukman Leong said on Monday.
Further, confidence in the domestic situation will increase foreign investment in the local money market, he said.
On a fundamental basis, Lukman said the domestic economy has been on the right track towards recovery, with the countrys trade deficit expected to fall this year.
"The domestic economic recovery is underway while, at the same time, the countrys trade deficit is becoming narrower," he said.
Also, that Bank Indonesia is actively involved in bilateral cooperation with central banks of other countries may support the performance of the local currency, he said.
"The cooperation will not only forge cooperation with other countries, but also support bilateral trade with other nations," he said.
According to Bank Indonesias mid-rate on Monday, March 10, the rupiah weakened to Rp11,449 per dollar from last Fridays close of Rp11,395 per dollar.(*)
Editor: Heru Purwanto
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