Rupiah Strengthens Tuesday, Welcomes Good News From US-China

Illustrated. (Irfan Meidianto / VOI)

JAKARTA - The rupiah exchange rate on the spot market has finally succeeded in continuing its strengthening in today's trade, Tuesday, August 25. The rupiah closed up 22 points or 0.15 percent to the level of Rp14,649 per US dollar (US).

Monex Investindo Futures Head Researcher, Ariston Tjendra said, in addition to the positive sentiment from the US market last night, today the news of trade talks between US and Chinese officials also provided additional positive sentiment.

"Officials are reporting that trade talks via telephone are going well. Many emerging countries are dependent on the economies of the two largest countries in the world so the good news from the relationship between the two provides positive sentiment to the market," Ariston told VOI.

Until 15.00 WIB, most currencies in the Asia Pacific are in the positive zone. The South Korean won still led gains after closing up 0.35 percent.

Next there was the Philippine peso which rose 0.27 percent and the Malaysian ringgit which rose 0.19 percent. Followed by the Chinese yuan which strengthened 0.14 percent against the US dollar.

Then there was the Singapore dollar, which rose 0.12 percent and the Thai baht, which appreciated 0.06 percent. The Taiwan dollar also managed to complement the currency in the green zone after edging up 0.04 percent.

Meanwhile, the Japanese yen became the currency with the deepest weakness after falling 0.21 percent. The Indian rupee is also just below the yen after depreciating 0.12 percent. And the Hong Kong dollar also edged down 0.004 percent against the US dollar.