Rupiah Strengthened Thinly, But Stronger Than Chinese Yuan

JAKARTA - The rupiah exchange rate on the spot market closed slightly higher on trading Tuesday, August 4. The rupiah closed down 0.03 percent or 5 points to the level of Rp14,625 per United States dollar (US).

Head of Research at Monex Investidno Futures, Ariston Tjendra, said that the strengthening of the rupiah was driven by the market, which is still waiting for the approval of the US government's 1 trillion US dollar fiscal stimulus, which could provide positive sentiment to riskier assets.

"The stimulus proposal is still under discussion and is planned to be voted on instead of this August," Ariston told VOI.

This afternoon in the Asia Pacific region, the rupiah strengthened along with the Thai baht which strengthened by 0.34 percent. Followed by the Singapore dollar and Japanese yen, each of which strengthened 0.06 percent and 0.05 percent.

Then and the Hong Kong dollar looks slightly lifted 0.005 percent against the US dollar.

Meanwhile, the currency that weakened against the US dollar was led by the Chinese yuan, which fell 0.07 percent, followed by the Taiwan dollar, which fell 0.06 percent.

Then the South Korean won fell 0.05 percent. The Indian rupee and the Philippine peso weakened 0.03 percent and 0.01 percent, respectively.

The currency of Indonesia's neighboring country, namely the Malaysian ringgit, has weakened 0.005 percent against the US dollar.