Rupiah Opens Stronger Against U.S. Dollar

Jakarta, Feb 11 (Antara) - The Indonesian rupiah gained slightly against the US dollar in the Tuesday`s opening trade on an increase in the Indonesian consumer confidence index, analysts said. Chief researcher of Trust Securities Reza Priyambada said here on Tuesday that an increase in the Indonesian consumer confidence index added to the positive sentiment from the country`s macro economic data released earlier. The currency traded at the level of 12,165 per dollar gaining from 12,176 earlier. "Rupiah still has the potential to regain more value with encouraging domestic economic data," he said. In addition, Bank Indonesia is set to maintain its benchmark interest rate to mark tight money policy which is welcomed by the market, he said. However rupiah rise would be held in narrow range ahead of the announcement of the Fed`s policy under new governor Janet Yellen. "The market is awaiting the announcement of the policy of the U.S. central bank on financial stimulus," Reza said. Negative sentiment from the euro still continued to shadow the rupiah appreciation, after the European Central Bank indicated it would maintain its low level of benchmark interest rate.