Rupiah Goes Up To IDR 14,300, Thank You Trump!
JAKARTA - The rupiah exchange rate on the spot market is getting stronger. This is because at the beginning of the opening of trade today, Thursday, November 5, the rupiah was opened and immediately accelerated 1.29 percent to the level of Rp14,380 per United States dollar (US).
As a result, the rupiah has become the currency with the largest strengthening in the Asia Pacific region. Head of Research at Monex Investindo Futures, Ariston Tjendra, said that the sentiment towards the rupiah today is still about the US Pipres. Biden's victory has begun to appear after the vote count results in Wisconsin and Michigan are more inclined to Biden.
"This morning the Asian stock index is likely positive because it responds to this result because Democrats are preferred by the market in this election," Ariston told VOI.
However, the calculations are still ongoing and tighter results are likely to come out. The large number of ballots sent by post also adds to the calculation time.
"In addition, the results will also take longer because Trump's supporters plan to file a lawsuit against the vote count if the result is a narrow victory for their opponents. This will add to the uncertainty in the market and the US dollar could still strengthen again because of this uncertainty," said Ariston.
Until 09.00 WIB, the majority of currencies in Asia had indeed strengthened. The South Korean won is exactly one level below the rupiah after strengthening 0.50 percent against the US dollar.
Followed by the Malaysian ringgit which rose 0.22 percent and the Japanese yen which strengthened 0.20 percent. Next, the Chinese yuan and the Taiwan dollar have both appreciated 0.08 percent this morning.
Then there was the Philippine peso which rose 0.03 percent and the Hong Kong dollar which edged up 0.01 percent against the US dollar.
Meanwhile, the Thai baht became the region's deepest weaker currency after dropping 0.12 percent. Followed by the Singapore dollar which edged down 0.09 percent in trading this morning.