REPUBLIKA.CO.ID, JAKARTA -- The Indonesian rupiah currency edged up to Rp11,395 per dollar on Thursday evening despite negative sentiment in the financial market, an analyst said.

The rupiah gained 21 points to close at Rp11,395 per dollar on Thursday evening, against Rp11,416 per dollar the day before.

"In general, the sentiment in the money market is still negative. But the rupiah rose slightly after Indonesia's foreign exchange reserves increased," stated Renny Eka Putri, a financial market analyst of state-owned lender Bank Mandiri.

Data from Bank Indonesia shows the country's foreign exchange reserves had increased by US$1.3 billion to US$97 billion at the end of October 2013 from US$95.7 billion at the end of September 2013.

Renny added, however, that the country's trade balance deficit and the Indonesian economy's slow growth rate would cast a shadow on the rupiah's exchange rate against the dollar.

"I think investors will continue to monitor Indonesia's trade balance performance and economic growth in the future," she remarked.

External sentiments, particularly on the declining unemployment rate and the rising manufacture index in the United States, had pushed up the dollar against the vast majority of global currencies including the rupiah, she noted.

"The sentiments in the United States are quite good," she claimed.

She predicted the rupiah would move within the range of Rp11,240 to Rp11,500 per dollar over the weekend.

Meanwhile, Bank Indonesia's mid rate was recorded at Rp11,389 per dollar on Thursday, compared with Rp11,414 per dollar on Wednesday.

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