RUPIAH TUMBLES TO RP9,100 PER DOLLAR MONDAY MORNING

Jakarta, Aug 4 (ANTARA) - The rupiah tumbled to Rp9,100 per dollar in the Jakarta interbank spot market on Monday morning after it appreciated against the greenback a few days earlier.

"The rupiah's current price correction will only be temporary in nature after it strengthened at below Rp9,100 per dollar a few days earlier," retail banking director of Bank Mega Tbk, Kostaman Thayib, said here on Monday.

The rupiah traded at Rp9,101/9,103 per dollar on Monday morning compared to Rp9,081/9,095 per dollar at the weekend.

Kostaman said investors' consolidated actions leading to the rupiah's fall on Monday morning would be temporary and they were likely to rush for the local unit in the evening.

This was because of strong positive sentiments to the rupiah, the more so because the US greenback tended to weaken against Asian major currencies, he said.

The market still showed positive responses to the rupiah, thereby making it to appreciate again thanks to a high inflow of hot money, he said.

The positive market sentiments gave the rupiah a chance to further appreciate, he said.

Money market observer Edwin Sinaga said on Monday the inflow of hot money would give a boost to the rupiah to edge closer to Rp9,000 per dollar.

He said the rupiah was expected to hit Rp9,000 per dollar thanks to strong positive sentiments to the Indonesian currency.