Jakarta, 30 / 5 (Xinhua) - The rupiah against the U.S. dollar in the Jakarta interbank spot market on Monday afternoon still rose to near the level of Rp8.500 per dollar, due to the greater buying dollars.
The rupiah exchange rate against U.S. dollars up 17 points to Rp8.536 per dollar than previously Rp8.553.
President Director of PT Nusa Financing Corpindo, Edwin Sinaga said the market was still positive on the rupiah as the dollar continues to weaken.
The market is actually a bit lonely because Wall Street and European stock closed welcomed the national holiday, he said.
So, he continued, there has been no positive issues that encourage players to buy dollars higher than the previous days.
The increase in dollars was also due to Indonesia's economic fundamentals continue to rise, he said.
According to him, the U.S. dollar weakened against most Asian currencies which give a positive sentiment towards Indonesia in particular money market dollars.
"We are optimistic that the rupiah is still going to move up again to reach Rp8.500 per dollar," he said.
The main factor buying rupiah, according to him, also a result of deflation that will occur in May.
Deflation that gives confidence that the economy will further grow with National well, he said.
Moreover, Indonesia is benefited by the action of China who hold new investments in his country.
This is due to the economic growth in the country is quite high bamboo curtain, China fear of causing a huge inflation, he said .