Jakarta (ANTARA News) - The rupiah sharply weakened against the US dollar in the Jakarta interbank spot market here on Wednesday morning on profit taking moves.

The Indonesian currency traded Rp9,430-Rp9,445 per US dollar, down 55 points from Rp9,375-Rp9,385 per US dollar at the market`s close a day earlier.

Investors released their rupiahs to take profit after the local unit had strengthened over the past few days, according to Kostaman Thayib, retail banking director of PT Bank Mega Tbk.

He, however, believed that the rupiah`s depreciation would not last long as regional bourses were still positive toward the domestic money market.

Investors ignored the regional bourses` positive sentiment as they wanted to take profit following the increasing inflow of foreign funds into the US, he said.

Foreign investors in US-bound and long-term investment unexpectedly rose significantly, he said. The long-term capital flow to the United States surged to US$40.7 billion from US$34.2 billion, according to Thayib.

It was positive news for the US economic growth although the US greenback tended to weaken, he said.

Besides, in the domestic market, investors still waited for President Susilo Bambang Yudhoyono to respond to the recommendations of the Team of Eight on the rivalry between the National Police and the KPK (Corruption Eradicaiton Commission).

If the recommendations were good for legal certainty, the rupiah would be boosted as investors would certainly be active again in the domestic money market, he said.(*)