Rupiah Open Stronger Against U.S. Dollar On Monday

Jakarta, Feb 24 (Antara) - Rupiah was higher in value against the US dollar in the first minutes of trading on Monday morning shored up by positive domestic economic data, analysts said. The Indonesian currency traded at the level of 11,705 per US dollar gaining from previous level of 11,730. "Rupiah is still on the increase backed up by positive domestic economic data including surplus in trade balance in the last quarter of 2013," research head of Trust Securities, Reza Priyambada, said. Meanwhile, the US dollar weakened against the majority global currencies including rupiah on market players` reaction to decline in the US manufacturing sector, he said. Rupiah, however, is still vulnerable to profit taking and worries over the impact of the regulation restricting exports of raw minerals , a policy that could affect foreign trade performance, he said. Monex Investindo Futures` analyst Zulfirman Basir said US economic data tended to ease fear of the impact of the Fed`s stimulus policy. "The US sentiment gives positive effects on the currencies of emerging economies including rupiah," he said, predicting rupiah would trade at the range of 11,655-11,770 per US dollar on Monday.