Dashing 218 Points, Rupiah Finally 'Officially' Returns To IDR13,000

JAKARTA - The rupiah exchange rate on the spot market was able to strengthen significantly at the close of trading on Friday, June 5. The rupiah was able to jump 218 points to the level of Rp13,878 per US dollar.

Head of Research at Monex Investindo Futures, Ariston Tjendra, said that globally, risk assets were strengthening. According to him, market players are still responding positively to the opening of the economy plus additional large stimulus plans in several countries such as the US, Europe and Japan.

"Market players take advantage of this momentum to immediately enter risky assets such as the rupiah to take bigger profit opportunities," Ariston told VOI.

Until 15:00 WIB, only the Japanese yen in Asia was seen to have weakened the US dollar by a weakening of 0.21 percent.

Meanwhile, the South Korean won was below the rupiah after strengthening 0.96 percent. Followed by the Singapore dollar which also rose 0.49 percent.

Then, the Taiwan dollar and the Malaysian ringgit both appreciated 0.41 percent. The Philippine peso and Chinese yuan also managed to increase by 0.36 percent and 0.28 percent, respectively.

The Thai baht also strengthened 0.24 percent. Followed by the Indian rupee, which edged up 0.06 percent.