On Tuesday, Rupiah Strengthened To Rp. 16,385 Per US Dollar

JAKARTA - The rupiah exchange rate has opened positive again. The rupiah on the spot market on Tuesday April 7 strengthened 0.17 percent or 28 points to a level of Rp16,385 per US dollar (US).

Head of Research at Monex Investindo Futures, Ariston Tjendra, said positive sentiment returned to the financial market which pushed the indexes of US, European and Asian stocks to strengthen this morning.

"The market has responded positively to reports of a slowdown in the rate of positive cases of COVID-19 in the US and Europe as the center of the global pandemic," he told VOI.

In addition, he said, the US government was rumored to be rolling out a second major stimulus worth US $ 1.5 trillion to reduce the negative impact of the outbreak on the economy.

"This issue adds positive sentiment to the financial market," he said.

He also estimates that the rupiah will also strengthen today following this positive sentiment.

"Today's rupiah will strengthen to around Rp. 16,300 with potential resistance at Rp. 16,500 per US dollar," he explained.