RUPIAH STABLE AGAINST US DOLLAR

Jakarta, March 22 (ANTARA) - The rupiah in the Jakarta interbank spot market, Monday morning, remained at the level of Rp9,100-Rp9,110 per US dollar as that of last weekend.

Investors were waiting for an announcement by Bank Indonesia (BI) on possible adjustment of the Indonesian central bank's key rate, Krisna Dwi Setiawan, a foreign exchange analyst of PT Valbury Asia Securities, said here on Monday.

BI would likely adjust its interest rate following hike in Asian countries' central bank interests, he said.

The Fed chose to bump up the so-called "discount" lending rate by one-quarter point to 0.75 percent, and China also decided to rise its interest rate.

He, however, believed that BI would likely to see the March inflation rate before deciding on its key rate.

If BI would increase its rate by at least 25 basis points, the rupiah might continue to move upward until it pass the level of Rp9,000 per US dollar, he said.

"We are optimistic that the rupiah will be at the level of below Rp9,000 per US dollar as foreign investors are very active in placing their funds in the domestic market," he said.

The foreign funds inflow would also likely boost the Indonesian stocks to 3,000 points, he said.

H-CS