REPUBLIKA.CO.ID, JAKARTA -- The rupiah value increased to a peak since April against the US dollar, analysts said.
The rupiah traded at the level of 11,405 per dollar gaining from the earlier level of 11,412.
"The rupiah value rose to its highest point against the US dollar since April on the announcement of running mates of presidential candidates," chief researcher of Monex Investindo Futures' Ariston Tjendra said.
Ariston said the market players have a high confidence in the presidential candidates and their running mates in bringing the country's economy to a better condition.
"Demand for rupiah is rising with strong inflows of foreign fund into the domestic market," he said.
Meanwhile, chief researcher of Trust Securities Reza Priyambada said rupiah extended gain to follow the rising value of yen.
"In addition to positive external sentiment the market players reacted positively to the announcement of the running mates of presidential candidates," Reza said.
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