RUPIAH STRENGTHENS SLIGHTLY AGAINST US DOLLAR

Jakarta, Nov. 3 (ANTARA) - The rupiah slightly strengthened against the US dollar in the Jakarta interbank spot market here on Tuesday morning on Wall Street and European bourses gains.

The Indonesian currency traded Rp9,550-Rp9,560 per US dollar, up 10 points from Rp9,560-Rp9,570 per US dollar at the market's close a day earlier.

The local unit was boosted by positive US economic data, according to Kostaman Thayib, retail banking director of PT Bank Mega Tbk.

US shares gained ground Monday on upbeat economic data and Ford's stronger-than-expected earnings in the third quarter, with the Dow Jones industrial average advancing 0.79 percent.

The Composite Stock Price Index (IHSG) at the Indonesian Stock Exchange (BEI) here on Tuesday morning opened higher tracking overnight gains in US markets.

The BEI index rose 0.38 percent or 9.438 points to 2,380.007, and the LQ-45 index gained 2.306 points or 0.50 percent to 468.025.

Thayib believed that the rupiah still had a chance to strengthen further in afternoon trading.

The local unit might reach the level of Rp9,500 per US dollar as the country's central bank, Bank Indonesia (BI), also intervened in the market to prevent the currency from reaching the level of Rp10,000 per US dollar.