RUPIAH STRENGTHENS 20 POINTS AGAINST US DOLLAR

Jakarta, March 1 (ANTARA) - The rupiah strengthened 20 points against the US dollar in the Jakarta interbank spot market here on Monday morning as investors sought as much of the local unit as possible.

The Indonesian currency traded Rp9,300-Rp9,320 per US dollar, up points from Rp9,320-Rp9,340 per US dollar at the market's close over the weekend.

The rupiah moved upward after it had depreciated last week as investors were worried over the Bank Century bailout case, Ifan Kurniawan, Head Equity Sales of PT Panin Capital, said.

Last week, the Indonesian currency plunged to nearly Rp9,400 per US dollar, but it later strengthened again to the level of Rp9,320 per US dollar.

The rupiah's current position was still normal because it was within a range fixed in the 2010 state budget, namely between RP9,200 and Rp9,400 per US dollar.

"We are optimistic that the rupiah will stay within the range which will enable importers and exporters to implement their activities," he said.

The Fed's decision to maintain its low interest rate also helped bolster the rupiah to strengthen because the US dollar in the regional markets weakened against Asia's main currencies.

The US economy has not improved as expected.