Rupiah Raced To Increase 0.50 Percent Thursday Morning, The Most Monstrous In Asia Pacific

Illustrated. (Irfan Meidianto / VOI)

JAKARTA - The rupiah exchange rate on the spot market has re-opened in the green zone. On Thursday, August 27, the rupiah opened up by 0.50 percent or 73 points to a level of Rp14,605 per US dollar.

The rupiah became the currency with the largest strengthening in the Asia Pacific region this morning.

Head of Research at Monex Investindo Futures, Ariston Tjendra, said that even though it was opened higher, there was still potential for weakening in the Garuda currency.

"The positive sentiment from the US financial markets last night may be contained today in Asian markets due to US and Chinese tensions in the South China Sea region," Ariston told VOI.

According to him, the market is also still depressed by the global economic conditions which are still depressed and the spread of the COVID-19 virus which is still increasing.

In addition, he continued, the market is still waiting for the US Central Bank Governor's speech at the Jackson Ville meeting tonight to seek indications of the next market direction.

"The rupiah has the potential to weaken today with a range of Rp14,600-14,750 per US dollar," said Ariston.

Until 09:00 WIB, most currencies in Asia were moving lower. The Philippine peso became the region's deepest weaker currency after dropping 0.15 percent.

Followed by the Japanese yen and Chinese yuan which were both corrected by 0.05 percent. Next came the Thai baht, which fell 0.04 percent against the US dollar.

Then the Singapore dollar depreciated 0.03 percent and the Malaysian ringgit edged down 0.02 percent against the US dollar this morning.

Meanwhile, the Taiwan dollar is one level below the rupiah after strengthening 0.25 percent. Followed by the South Korean won, which rose 0.05 percent. Furthermore, there was the Hong Kong dollar which edged up 0.003 percent this morning.