Thursday Closed Still Mighty Rupiah, Strengthening To Rp13,639 Per US Dollar

JAKARTA - The rupiah exchange rate managed to strengthen again at the close of trading today, Thursday, January 23. The rupiah strengthened 7 points or 0.05 percent and ended at Rp13,639 per US dollar.

Monex Investindo Futures Head Researcher Ariston Tjendra said the strengthening of the rupiah since morning was due to the level of US bond yields continuing to decline today.

"It has touched the 1.73 percent level, the lowest level since December 5, 2019," Ariston told VOI, Thursday, January 23.

Positive sentiment from the strengthening of the rupiah still came after BI maintained its benchmark interest rate or the BI 7 Day Reserve Repo Rate (BI7-DRRR) at 5 percent

In addition, BI Governor Perry Warjiyo explained that the central bank will remain accommodative and consistent with the forecast for controlled inflation within the target range, maintained external stability and efforts to maintain the momentum of domestic economic growth.

The majority of currencies in the Asian region moved lower against the US dollar. Apart from the rupiah, only the Japanese yen managed to increase by 0.26 percent and became the strongest currency in Asia.

Meanwhile, the Chinese yuan was Asia's weakest currency with a 0.41 percent drop. Followed, the Korean won weakened 0.36 percent, the Thai baht fell 0.31 percent and the Taiwan dollar depreciated 0.21 percent.