Thursday Morning Rupiah Turned Slightly Lower To Rp14,105 Per US Dollar

JAKARTA - The rupiah exchange rate on the spot market was opened slightly lower, and was unable to continue the strengthening yesterday. The rupiah on Thursday, June 3, opened to a tioic decline of 0.07 percent or 10 points to a level of Rp14,105 per US dollar (US).

Head of Research at Monex Investindo Futures, Ariston Tjendra, said that despite the weak opening, the rupiah was still plagued by positive sentiments.

"Among other things, the expectation of a faster economic recovery due to the reopening of the economy in several countries amid the pandemic has given positive sentiment to risk assets including the rupiah," explained Ariston to VOI.

According to Ariston, the new normalcy plan in Indonesia still provides positive sentiment to the market. The momentum for the strengthening of the rupiah may still be maintained today with potential to the support area at around Rp14,000 and potential resistance at Rp14,200.

This morning, the majority of currencies in the Asian region weakened against the US dollar. The weakening was led by the Thai baht, which fell 0.22 percent, followed by the Malaysian ringgit, which fell 0.20 percent.

Then the Chinese yuan weakened 0.18 percent, the Indian rupee 0.15 percent, the Singapore dollar weakened 0.14 percent, the Taiwan dollar weakened 0.04 percent, and the Japanese yen 0.02 percent.

The only currency in Asia that strengthened against the US dollar was the Philippine peso which appreciated 0.27 percent.