The rupiah strengthened slightly to Rp 12,285 in morning trade, up from last Friday’s close of Rp 10,370.
Money market analyst Edwin Sinaga told state news agency Antara that the rupiah would continue to strengthen toward Rp 10,000 level as more and more foreign investors enter into the Indonesian capital market.
“The more foreign money entering into the domestic market will boost the rupiah," he said.
He also said positive political developments in the country had encouraged foreign investors.
The market was buoyed by the General Election Commission's announcement last week of official election results that named President Susilo Bambang Yudhoyono's Democratic Party as the winner of the legislative election.
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