Wednesday Morning Rupiah Weakened Slightly By 5 Points To Rp14,455 Per US Dollar

JAKARTA - The rupiah exchange rate on the spot market was opened lower on Wednesday, July 15 trading. Wednesday morning, the rupiah moved down 5 points or 0.03 percent to a level of Rp14,455 per US dollar.

Monex Investindo Futures Head Researcher, Ariston Tjendra said, although he opened lower, he was optimistic that the movement of risky assets including the rupiah in Asian markets would be positive today.

"The market is responding to the good news from the progress of the COVID-19 virus vaccine research. This positive movement also follows the positive movement in the US market last night," Ariston told VOI.

US Biotechnology Company, Moderna reported the results of successful testing of vaccines producing antibodies in the human body of research subjects. Vaccines are a solution to stop the spread of the COVID-19 virus.

"For the rupiah, the market will also pay attention to Indonesia's trade balance data for June, which is estimated to be a surplus. The surplus results can support the strengthening of the rupiah exchange rate," he explained.

Today, according to him, the rupiah has the potential to strengthen towards IDR 14,350 with potential resistance at IDR 14,500 per US dollar.

This morning, the majority of currencies in the Asian region moved higher against the US dollar, led by the South Korean won which strengthened 0.35 percent. Followed by the Taiwan dollar which strengthened 0.19 percent.

The Malaysian ringgit and the Philippine peso gained 0.17 percent and 0.15 percent, respectively. Thai baht is seen to have strengthened 0.13 percent.

The Chinese yuan and Singapore dollar both strengthened 0.06 percent. The Hong Kong dollar was recorded to have slightly strengthened by 0.01 percent.

Meanwhile, the currency that weakened against the US dollar this morning was led by the Indian rupee which weakened 0.31 percent. Followed by the rupiah and the Japanese yen, which each fell 0.03 percent and 0.02 percent.