The rupiah exchange rate against the U.S. dollar Tuesday morning in the Jakarta interbank spot market fell 24 points to Rp8.548 per U.S. dollar compared to the previous position worth Rp8.524.
PT Indosurya Asset Management analyst Reza Priambada here on Tuesday said the more widespread negative news about the financial crisis in Europe and the U.S. to make market participants more interested in placing funds in currencies that are considered strong.
"The U.S. dollar was one of the strong currency in times of crisis, although U.S. dollars are also shadowed by the pressure due to the threat of debt downgrades by rating agencies due to U.S. government debt have not agreed on the increase the upper limit of U.S. debt," he said.
In addition in the form of U.S. dollars, he added, market participants will seek safe haven `` to keep the value of their assets in gold as well as the Japanese yen and Swiss franc.
"Market participants will seek safe haven` other `outside the dollar overshadowed the negative sentiment as well, namely gold, Japanese Yen and Swiss franc in which we see all three of these instruments strengthened last few days," he said.
Observers from the money market securities Lana Soelistianingsih Samuel added, investors are beginning to respond to developments concerning the U.S. debt ceiling is still no bright spots.
"Fears of impending crisis investors will create market pressure in the U.S. and Europe is likely to spread to Asian markets today," he said.
That way, he added, the rupiah has the potential to continue weakening against the U.S. dollar in trading today.