Jakarta (ANTARA News) - The rupiah value rose slightly against the US dollar on Thursday on growing inflows of foreign investment to the domestic market, analysts said.

The Indonesian currency traded at the level of 11,293 per dollar at the closing trade,gaining slightly from 11,295 per dollar earlier.

Inflows of foreign funds resulted in growing demand for rupiah though slightly with improvement of the US economic data, chief researcher of Monex Investindo Futures Ariston Tjendra said here .

"The US dollar is still on the rise in value to follow solid improvement of US economic data," he said.

He said the market players tend to be cautious about data released by the Automatic Data Processing about US employment and factory order that signaled improvement of US economy.

"The condition could strengthen demand for the US dollar putting pressure on rupiah," he said.

Chief researcher of Trust Securities Reza Priyambada said optimism that elections would be smooth as expected by the market gave positive sentiment for rupiah.

The country will hold legislative election on April 9 to be followed with presidential election in July.

(SYS/H-ASG/A014)

Editor: Suryanto
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