Rupiah Loses More Value

Jakarta, Aug 16 (ANTARA) - The Indonesian currency rupiah lost more of its value against the US dollar in trade on Thursday morning amid minimum transactions in the money market. The rupiah was recorded at the level of 9,490 per dollar in inter-bank trade weakening from 9,480 earlier. Bank Himpunan Saudara market observer Rully Nova said many market players had stopped transactions ahead of the long Idul Fitri holidays in this predominantly Muslim country. "In addition, market sentiments are not strong enough to lift the rupiah market value," Rully said here on Thursday. He said the US dollar gained over many major currencies in the world on report in July of a four months increase in US retail sales. Meanwhile, higher than expected economic growth recorded by Germany and France was not enough to lift risky currencies , indicating that most euro economies are slowing down. "Rupiah tends to follow the euro trend," Rully said. Monex Investindo Futures analyst Johanes Ginting said the euro weakened against dollar on speculation that the Swizz National Bank is selling euro following an increase in its foreign exchange reserves. "Euro sales pressure generally has negative impact on risky currencies," he said.