Rupiah Opened The Fastest In Asia Pacific Monday

Illustrated. (Irfan Meidianto / VOI)

JAKARTA - The rupiah exchange rate on the spot market opened higher on Monday, August 31 trading. The rupiah opened up 127 points or 0.87 percent to IDR14,505 per United States dollar (US).

The rupiah has also become the currency that has experienced the highest appreciation in the Asia Pacific. Head of Research at Monex Investindo Futures, Ariston Tjendra, said that the rupiah exchange rate will still receive positive sentiment from indications of longer and possibly more aggressive monetary easing policies from the US Central Bank to help the US economy recover.

"As expressed by the governor of the Fed in a speech at the online meeting of officials at the world central bank Jackson Hole last Thursday.

"The Fed's attitude has pushed the US dollar exchange rate downward and could help strengthen risky assets, including the rupiah," Ariston told VOI.

Coin illustration. (Irfan Meidianto / VOI)

On the other hand, he continued, the strengthening of the rupiah exchange rate against the US dollar could be restrained due to concerns over the potential for a recession and the increasing transmission of COVID-19.

"The potential for rupiah strengthening against the US dollar today is in the range of Rp. 14,550-14,750 per US dollar," he said.