Rupiah Strengthens To Rp14,600 Per US Dollar

JAKARTA - The rupiah exchange rate on the spot market was able to close significantly higher on Friday, May 29 trading. The rupiah strengthened 0.71 percent or 105 points to a level of Rp14,610 per US dollar (US).

The rupiah is the currency with the largest appreciation in the region. The majority of currencies in Asia also tend to strengthen today.

Until 3:00 p.m. WIB, only the Chinese yuan and Hong Kong dollar were still weak against the US dollar. Yuan became the currency with the deepest weakness after dropping 0.02 percent. Meanwhile, the Hong Kong dollar edged down 0.003 percent.

Meanwhile, the Japanese yen became the second-biggest strengthening currency in the region after rising 0.42 percent.

Next there was the Singapore dollar and Indian rupee which both appreciated 0.34 percent. Furthermore, there was the Philippine peso which managed to rise 0.20 percent and the Thai baht which rose 0.19 percent.

Then, the South Korean won managed to increase 0.15 percent. Meanwhile, the Malaysian ringgit weakened against and the Taiwan dollar was seen slightly strengthening 0.07 percent and 0.03 percent, respectively.