Predicted To Weakening, Rupiah Opens Strengthening At Monday's Opening

Illustrated. (Irfan Meidianto / VOI)

JAKARTA - The rupiah exchange rate on the spot market opened stronger on Monday, September 7 trading. Earlier this week the rupiah opened up by 0.31 percent or 45 points to a level of Rp14,705 per US dollar (US).

Head of Research at Monex Investindo Futures, Ariston Tjendra, said that Friday night US labor data was released, which was good enough to encourage the strengthening of the US dollar against other exchange rates.

"Even though it opened higher this morning, the rupiah has the potential to be depressed against the US dollar on Monday," said Ariston.

In addition, he continued, there are other sentiments regarding the re-heating of US relations with China after the US planned to blacklist its trade with China's largest semiconductor company, SMIC.

"This issue could put pressure on risky assets, including the rupiah," he said.

Today, several global economic data from China and Germany will be the market's attention as the market is still looking for clues about indications of global economic recovery amidst the pandemic, namely China's trade balance data for August and German industrial production data for July.

"If these two figures are better than projected, the decline in risk assets may be restrained. The potential for the rupiah today is moving in the range of Rp14,650-14,850 per US dollar," said Ariston.