RUPIAH WEAKENS 70 POINTS AGAINST US DOLLAR

Jakarta, Dec. 28 (ANTARA) - The rupiah weakened against the US dollar in the Jakarta interbank spot market here on Monday morning as investors actively bought the greenback.

The Indonesian currency traded Rp9,480-Rp9,490 per US dollar, down 70 points from Rp9,410-Rp9,420 at the market's close over lastweekend.

The local unit plunged against the greenback because the high demands for the US dollar, according to Kostaman Thayib, banking retail director of PT Bank Mega Tbk.

However, he believed the current position of the rupiah was normal as it had early been at the level of above Rp9,500 per US dollar.

He was also optimistic that the Indonesian currency would reach the level of nearly Rp9,300 per US dollar in the first quarter of 2010.