Rupiah Reinforced, Tuesday Morning Opened At Rp16,505 Per US Dollar

JAKARTA - The rupiah exchange rate was observed to have strengthened at the start of trading on Tuesday 24 March. The rupiah exchange rate on the spot market opened a rebound with a gain of 70 points or 0.42 percent to a level of Rp16,505 per US dollar.

Monex Investindo Futures Head Researcher Ariston Tjendra said the US Central Bank's sudden announcement last night that it would release a credit program to US businessmen through banks had given positive sentiment to some risky assets.

"This morning, Asian stock indexes such as the Nikkei and Kospi seemed to strengthen. Likewise, the Australian stock index and the S & P500 futures index. Emerging market currencies also seemed to strengthen against the US dollar," Ariston told VOI.

This according to him, will also provide positive sentiment to the rupiah today. The rupiah may strengthen towards the support of IDR 16,000 per US dollar.

"The market is also still waiting for the approval of a US $ 2 trillion stimulus in the US senate today," he said.

According to Ariston, if it is approved, it will provide additional reinforcement for the rupiah. "The potential for rupiah today is in the range of Rp. 16,000-16,575 per US dollar," he explained.