Rupiah Strengthened Thin Thursday Morning

JAKARTA - The rupiah exchange rate on the spot market opened up slightly on trading Thursday, August 13. The rupiah opened up 0.12 percent or 17 points to a level of Rp14,743 per US dollar.

Head of Research at Monex Investindo Futures, Ariston Tjendra, said this morning the market sentiment looked positive for riskier assets with Asian stock indexes moving higher following the strengthening that occurred in the US stock market last night.

"The exchange rate of emerging markets, including the rupiah, also seems to have strengthened this morning against the US dollar," said Ariston to VOI.

Today, he said, the market may respond positively to indications of global economic recovery and still have positive expectations of the approval of the second US stimulus package to help the US economy recover amid the COVID-19 pandemic.

"The rupiah also has the potential to strengthen with the potential in the range of Rp. 14,650-14,850 per US dollar," he said.

This morning until 9:25 a.m., the majority of currencies in the Asia Pacific region moved up against the US dollar. The currencies that strengthened were the Japanese yen, Hong Kong dollar, Singapore dollar, Taiwan dollar, South Korean won, Philippine peso, rupiah, Malaysian ringgit and Thai baht.

Meanwhile, the currencies that weakened against the US dollar this morning were the Indian rupee and Chinese yuan.