On Wednesday, Rupiah Raised 15 Points To Rp14,740 Per US Dollar

JAKARTA - The rupiah exchange rate on the spot market opened higher on trading Wednesday, May 20. The rupiah opened up 0.10 percent or 15 points to a level of Rp14,740 per United States dollar (US).

Head of Research at Monex Investindo Futures, Ariston Tjendra, said that amidst tense relations between the US and China, the market will still get positive sentiment from increasing countries that are loosening or planning to loosen their lockdown policies.

"Apart from that, there is positive sentiment from the progress of vaccine discovery by several countries, including Indonesia itself," said Ariston to VOI.

He added, on the other hand, the tension between the US and China would be a concern for the market because it has a negative impact on the global economy.

"Today's rupiah still has the potential to move higher towards the support area of IDR14,650 with potential resistance of IDR14,850 from these positive sentiments.

This morning, until 09:09 WIB, the majority of currencies in the Asian region strengthened. Led by the Indian rupee, which rose 0.38 percent, followed by the Malaysian ringgit, which gained 0.24 percent.

Then the Thai baht and South Korean won both strengthened 0.03 percent. The Hong Kong dollar strengthened 0.01 percent.

Meanwhile, the split against the US dollar this morning was the Singapore dollar (0.11 percent), the Philippine peso (0.09 percent) and the Taiwan dollar (0.02 percent).