On Tuesday, Rupiah Strengthened To Rp. 14,400

JAKARTA - The rupiah exchange rate was opened stronger on trading Tuesday, June 2. The rupiah opened up 0.86 percent or 125 points to a level of Rp14,485 per United States dollar (US).

The strengthening of the rupiah at the beginning of trading was as predicted. Head of Research at Monex Investindo Futures, Ariston Tjendra, estimates that the movement of the rupiah in early June is still strong against the US dollar.

According to him, the rupiah might get a boost against the US dollar due to conditions in the US that have the potential to disrupt US economic activity.

"In addition, the market is also still responding positively to the plan to reopen some economic activities amid the ongoing pandemic," said Ariston to VOI.

However, Ariston added that the potential for a trade war between the US and China could hold back this strengthening. According to him, the rupiah today has the potential to move in the support range of IDR 14,500-14,450 with potential resistance in the range of IDR 14,700.

This morning, the rupiah strengthened along with the majority of other Asian currencies. The Malaysian ringgit led the strengthening of Asian currencies against the US dollar, with a strengthening of 0.51 percent, the rupiah was in second place.

Meanwhile, the Indian rupee strengthened 0.10 percent, the Thai baht strengthened 0.10 percent, the Chinese yuan strengthened 0.06 percent, the Taiwan dollar strengthened 0.06 percent, the Singapore dollar strengthened 0.007 percent and the Hong Kong dollar strengthened 0.001 percent against the US dollar. .