RUPIAH SLIGHTLY SURGES EARLY FRIDAY

Jakarta, March 27 (ANTARA) - The rupiah slightly went up against the US dollar in the Jakarta interbank spot market here early Friday.
The Indonesian currency traded at Rp11,500/11,515 per US dollar, up 20 points from Rp11,520/11,535 at the market's close a day earlier.

The rupiah increase showed that the market sentiment was still positive after the government received a US$50-billion loan from the World Bank, Rully Nova, a foreign currency analyst of PT Bank Himpunan Saudara Tbk., said here on Friday.
"We are optimistic that the market is still positive, and it could boost the rupiah to strengthen up to nearly the level of Rp11,000 per US dollar, although it will take a long time," he said.
The rupiah would reach the level of Rp11,000 per US dollar if there is an influx of Indonesian businessmen's funds so far deposited overseas, he said.
The funds from overseas had begun to flow into the domestic market and the influx was expected to continue during the upcoming general elections, he said.
Therefore, if the general elections could run peacefully and smoothly, the funds which have so far parked overseas, would reenter the domestic market in a large amount, he said.