RUPIAH SLIGHTLY WEAKENS ON PROFIT TAKING MOVES

Jakarta, Dec. 3 (ANTARA) - The rupiah weakened against the US dollar in the Jakarta interbank spot market here on Thursday morning on profit taking moves after the local unit had strengthened earlier.

The Indonesian currency traded Rp9,440-Rp9,455 per US dollar, down 10 points from Rp9,430-Rp9,445 per US dollar earlier.

Investors were still cautious while following the latest developments regarding the Bank Century bailout case, according to Rully Nova, a foreign exchange analyst of PT Bank Saudara Tbk, in Jakarta.

Besides, they were not to active in the domestic market as the US dollar strengthened against other regional currencies, he said.

The US greenback strengthening and data on bad performance of US employment had affected the Wall Street to plunge, he added.

The rupiah, however, still had a chance to move upward again because the US government planned to release the greenback in huge amount in 2010 in order boost the effectiveness of the stimulus package , he explained.

He believed that investors were still confident in Indonesia as potential market in Asia, after China and India.

Nova hoped that the Indonesian could reach the level of Rp9,300 per US dollar.***