Wednesday Rupiah Strengthened By 0.98 Percent To Rp15,295 Per US Dollar

JAKARTA - The rupiah exchange rate was successfully closed higher on trading Wednesday, April 29. The rupiah closed up 0.98 percent or 150 points to a level of Rp15,295 per US dollar.

Head of Research at Monex Investindo Futures, Ariston Tjendra, said positive sentiment had persisted since morning. Asian and European stock indices rose simultaneously until this afternoon. Likewise, emerging market exchange rates strengthened against the US dollar.

"The market is anticipating the results of the Fed's monetary meeting which will be announced in the morning at 1 am which may still support stimulus to restore the US economy," Ariston told VOI.

Easing lockdowns in some pandemic countries also helped positive sentiment. Oil prices also rose because of this.

The movement of the rupiah is in line with all currencies in the region. In fact, the strengthening of the rupiah is the biggest in Asia today.

As of 15:00 WIB, the Hong Kong dollar was still the smallest strengthening currency in Asia after only increasing 0.001 percent against the US dollar.

Meanwhile, the Indian rupee, was below the rupiah after lifting 0.76 percent. Furthermore, the South Korean won and Malaysian ringgit rose 0.52 percent and 0.47 percent, respectively.

Then there was the Japanese yen which lifted 0.47 percent. Meanwhile, the Taiwan dollar and the Philippine peso both managed to gain 0.34 percent.

Followed by the Singapore dollar which has appreciated 0.25 percent. And the Thai baht also strengthened 0.19 percent. Meanwhile, the Chinese yuan edged up 0.06 percent.