Two international rating agency has raised Indonesia’s debt rating letter level. After Fitch Ratings assigned a rating BBB-from BB + on the previous December 15, 2011, now turn to Moody’s Investor Services raised the Indonesian government bond ratings of Ba1 to Baa3.

According to the Economist Danareksa Research Institute, Purbaya Yudhi Sadewa, Indonesia promoted to investment grade by ratings agency Moody’s lead to strengthening of the rupiah against the U.S. dollar.

“The strengthening rupiah associated with rising capital inflows triggered by an increase rankings. Partly also because of the improving world market and reduced the impression of global uncertainty,” said Purbaya in a short message to VIVAnews.com in Jakarta, Friday, January 20, 2012.

However, Purbaya said, in the long run the exchange rate is still dependent on global conditions. Although Indonesia obtain investment grade ratings, but the dollars will come back down when increased global uncertainty.

“In the first half of this year, the rupiah will be in the range Rp9.100 to Rp9.200 per U.S. dollar. While in the second half, able to level Rp8.800 to Rp9.000,” he said.

Meanwhile, at the close of trading this weekend, according to Bank Indonesia middle rate, the rupiah strengthened against the U.S. dollar in the position of the previous trade Rp9.075 Rp8.955.