"The rupiah still has a wide room to strengthen due to the countrys solid economic fundamentals. Yet, several sentiments still limit the local units appreciation," Bank Himpunan Saudaras money market observer Rully Nova said.
Chinas economic data, which is still relevant to market expectation, has added to the positive sentiment toward the regional currencies, including the rupiah, he noted.
He said industrial production grew 8.7 percent in April in China, while its investment in fixed assets also rose 17.3 percent from the prior year.
The rupiahs strengthening against the dollar tended to be limited as market players are awaiting the presidential candidates for the July 9 polls, he added.
"Because of that, the rupiahs movement had been flat in the past few days," he said.
The market players are also waiting for the US retail sales data to be announced later this week, he pointed out.
According to Bank Indonesias mid rate on Tuesday, May 13, the rupiah strengthened at 11,525 against 11,536 the day before.(*)
Editor: Heru Purwanto
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