REPUBLIKA.CO.ID, JAKARTA -- The Indonesian currency gained after losing more value against the US dollar in the first minutes of trading on Friday.

At 10.00 local time the currency traded at the level of 12,771 per dollar strengthening from the level of 12,842 after sinking from earlier level of 12,801 per dollar.

The rupiah fall in value in the first minutes of trading was caused by Greek debt problem that weakened euro and the currencies of developing countries including rupiah.

Samuel Sekuritas' economist Rangga Cipta said rupiah regained its losses later with the fall of the US dollar following report of shrinking retail sales and an increase in unemployment in the world's largest economy.

Rangga predicted rupiah will hover the level of 12,000 per dollar in the first quarter of this year. '

Meanwhile investors are awaiting announcement of the country current account data , he said, adding the current account deficit is expected to narrow significantly.

The said there was less optimism over the US economy as a result data not up to expectation.

Earlier there was high optimism that the US economic condition would continue to improve signalling global economic recovery.

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