Jakarta (ANTARA News) - The rupiah continued to weaken against the US dollar in the Jakarta interbank spot market here on Thursday on profit taking moves.

The Indonesian currency traded Rp9,453-Rp9,463 per US dollar, down 73 points from Rp9,380-Rp9,395 per US dollar at the market`s close a day earlier.

The rupiah`s depreciation was normal after it had earlier strengthened significantly, according to Harry Kurniawan, a stock broker of PT Makinta Securities.

He believed the depreciation was temporary and it later would strengthen again up to the level of Rp9,300 per US dollar.

"We are optimistic that the depreciation is just temporary and the rupiah will strengthen again soon," he said.

The local currency still had a chance to move upward again because foreign investors were still eager to invest funds in the domestic market, he said.

The inflow of foreign funds this year was expected to remain high because the Indonesian market was still considered profitable, he explained.

Besides, Indonesia had managed to increase its foreign exchange reserves to US$70 billion and its economic growth from 4.5 percent to five percent, he explained.(*)

Editor: Heru

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