Rupiah Closes Stronger Against U.S. Dollar

Jakarta, Feb 5 (Antara) - Rupiah regained some of its lost value against the US dollar closing at the level of 12,197 per dollar on Wednesday. In interbank transaction, the currency gained two points from 12,199 per dollar earlier. "Rupiah was fairly stable and tended to gain after the release of the country`s economic data, which were seen as positive by market players," financial market observer from Bank Himpunan Saudara, Rully Nova, said. After the release of the data with the economic growth of 5.78 percent in 2013, trade surplus of US$1.5 billion in December, 2013 and inflation of 8.2 on-year in January, 2014, rupiah began to gain strength, Ruly said. He said Bank Indonesia which has adopted a policy to sustain economic stability, could continue to shore up rupiah. He said the positive domestic sentiment could offset negative external sentiment with report that the US central bank was aggressive in trimming its financial stimulus. "Expectation that the US economy would continue to grow would encourage the Fed to further cut its massive stimulus ," he said. Meanwhile, based on Bank Indonesia`s middle exchange rates rupiah gained to the level of 12,172 on Wednesday from 12,248 per dollar on Tuesday.