Starting The Beginning Of The Week, Rupiah Is The Strongest In Asia Pacific

JAKARTA - The rupiah exchange rate on the spot market opened higher on Monday, September 21 trading. The rupiah opened up 0.44 percent or 65 points to a level of Rp. 14,670 per US dollar (US).

As a result, the rupiah became the currency with the largest strengthening in the Asia Pacific region. Head of Research at Monex Investinfo Futures, Ariston Tjendra, estimates that today there is a potential for the rupiah to continue strengthening against the US dollar.

"As seen this morning, the regional exchange rate strengthened against the US dollar following market concerns about the unstable US economic recovery, and negotiations on a US stimulus package which is still tough between two US camps, Republicans and Democrats," Ariston told VOI.

According to him, today the rupiah has the potential to move in the range of IDR 14,650-14,800 per US dollar.

Until 09.00 WIB, the majority of currencies in the Asia Pacific region moved to strengthen against the US dollar. The Taiwan dollar is just below the rupiah after strengthening 0.38 percent against the US dollar.

Next there was the Singapore dollar which strengthened 0.20 percent and the Japanese yen which rose 0.19 percent. Followed by the Thai baht, which rose 0.10 percent.

Furthermore, there was the Chinese yuan which lifted 0.08 percent, and the Hong Kong dollar edged up 0.001 percent this morning.

Meanwhile, the South Korean won became the currency with the deepest weakness in the region after falling 0.19 percent. Followed by the Philippine peso, which edged down 0.03 percent against the US dollar.

Meanwhile the Malaysian ringgit is stable at the same level as last weekend's close this morning.