Rupiah Predicted To Strengthen Driven To Increase Asian Stock Index

US dollars and rupiah (Photo: Antara)

JAKARTA - Financial Market Observer and Commodity Ariston Tjendra said that the movement of the rupiah has the potential to strengthen against the United States (US) dollar on Monday, March 3.

Ariston said this morning that the movement of the emerging market exchange rate against the US dollar was quite positive, on average it rose.

"Indeks saham Asia pun terlihat menguat," ujarnya kepada VOI, Senin, 3 Maret.

Ariston said amid the threat of increasing rates from President Trump to Mexico, Canada, and China, market participants returned to risky assets this morning.

According to him, this could be a buy on dip action because the price has been depressed quite deeply.

However, Ariston said that because Trump's sentiments were still ongoing and Trump's intention to impose a higher tariff had not faded.

"This sentiment will continue to put pressure on risky assets in the future," he said.

He estimates that the movement of the rupiah on Monday, March 3, has the potential to strengthen to a limited US dollar towards a level of Rp. 16,500 per US dollar with potential resistance at the level of Rp. 16,600 per US dollar.

Quoting Bloomberg, the Rupiah exchange rate on Friday, February 28, 2025, the rupiah exchange rate on the spot market closed down 0.86 percent at the level of Rp. 16,596 per US dollar. Meanwhile, the Jakarta Interbank Spot Dollar Rate (Jisdor) exchange rate of Bank Indonesia (BI) closed down 0.87 percent to a price level of Rp. 16,575 per US dollar.