The rupiah hit its highest level since July 2007 on Monday as foreign investors continued to snap up Indonesia's financial assets, leading some exporters to express concerns about its strength.

The rupiah touched 8,997 versus the US dollar in morning trade before weakening to 9,014. It rose along with international markets on news that Greece's debt crisis was easing, making riskier assets more attractive.

The Jakarta Composite Index surged 1.3 percent to close at 2,881.3, rising for the first time in three days.

Darmin Nasution, acting governor of Bank Indonesia, urged exporters not to worry, saying the appreciation was temporary.