Rupiah Stagnant At Rp11,375 In Early Week

Jakarta, Nov 11 (Antara) - The rupiah remained stagnant at Rp11,375 per US dollar during inter-bank transactions on Monday morning. Analyst from Monex Investindo Futures Zulfirman Basir said here on Monday that investors were still watching Bank Indonesia monetary policies as they sought to stabilize the rupiah early in the week. "The outlook of the rupiah is still neutral, with estimates to be traded in the range of Rp11,330 to Rp11,660 per US dollar for today (Monday)," he said. Basir added that from the fundamental side, US economic growth data and non-farm payroll policies have indicated positive signs that the US economy is recovering, which could depress the rupiah. Moreover, the recovering economic growth will push the Federal Reserve to lessen its stimulus in the next few months, he explained. Similar to Basir`s analysis, Lukman Leong, an analyst from PT Platon Niaga Berjangka, said that the rupiah will be depressed during the mid-term period due to external factors. "However, negative sentiments and domestic anxiety have been reduced following an improved inflation rate, which is very important in stabilizing the rupiah, while sluggish growth is still overshadowing the Indonesian economy," said Leong.