Rupiah Opens Stronger On Monday

Jakarta, Jan 13 (Antara) - Rupiah gained against the US dollar in the opening trade on Monday despite being shadowed by the Fed`s decision to cut its financial stimulus. In inter-bank transactions rupiah opened at the level of 12,030 per US dollar from 12,155 per dollar earlier. Monex Investindo Futures` analyst Zulfirman Basir said low number of new jobs available in December 2013 put pressure on the US dollar. "The low number of new jobs eased worries of investors over the impact of the financial stimulus tapering, giving positive sentiment to rupiah," Zulfirman said However, the rupiah gain would not last long with fear of the country`s high inflation, still wide current account deficit and economic slowdown. "Rupiah might trade in the range of 12,000 - Rp12,135 per dollar today," he said. Financial market analyst from PT Platon Niaga Berjangka, Lukman Leong said Bank Indonesia (BI)`s decision to maintain its benchmark interest rate at 7.5 percent still has positive impact on the market.