Strengthening Of Rupiah Tuesday Morning Aided By Astrazeneca Vaccine Test

JAKARTA - The rupiah exchange rate on the spot market opened higher on trading Tuesday, September 15. The rupiah opened immediately and shot 75 points to the level of Rp14,805 per United States dollar (US).

Head of Research at Monex Investindo Futures, Ariston Tjendra, said the financial market was still overwhelmed by positive sentiment from the large acquisition of US companies and the resumption of testing for the Astrazeneca COVID-19 vaccine and strengthening the US stock index overnight.

On the other hand, ahead of the announcement of the results of the Fed's meeting at 1 o'clock on Thursday morning, the market is expecting the US central bank to give a dovish or pessimistic statement regarding the US economic recovery and maintain loose policy longer.

"This expectation has the potential to provide positive sentiment to risky assets and also put pressure on the US dollar. Above conditions have the potential to encourage the strengthening of the rupiah against the US dollar today in the range of Rp14,750-14,950 per US dollar," he explained.

VOI observed at 09:20, the rupiah was still in the green zone, although it was not like the strengthening at the opening of trade. Rupiha was at the level of Rp14,852 per US dollar, or strengthened 0.19 percent.