Hit By Negative Sentiment From The US-China, The Rupiah Was Opened To Strengthen

Illustrated. (Irfan Meidianto / VOI)

JAKARTA - The rupiah exchange rate on the spot market continues to strengthen at the start of today's trading opening, Tuesday, September 8. The rupiah opened up 0.14 percent to a level of Rp14,720 per US dollar (US).

Head of Research at Monex Investindo Futures, Ariston Tjendra, said this morning it was seen that the US dollar was still strengthening against regional exchange rates. This was triggered by concerns over heating up US-China relations.

"That's because the US government plans to block trade with China's largest semiconductor company," Ariston told VOI.

In addition, he continued, indications of US economic recovery also helped strengthen the US dollar. US manufacturing activity and employment index data released were better than projected last week.

"The rupiah has the potential to be depressed today in the range of Rp14,650-14,850 per US dollar," said Ariston.

Until 09.00 WIB, the movements of most Asian currencies weakened. The deepest weakness occurred in the Malaysian ringgit which fell 0.17 percent.

Followed by the Singapore dollar which was eroded 0.12 percent and the Chinese yuan which was corrected by 0.07 percent. Furthermore, there was the Japanese yen, which depreciated 0.03 percent and the Thai baht, which fell 0.02 percent against the US dollar.

Then there is the South Korean won and the Hong Kong dollar which both edged down 0.03 percent. Meanwhile, the Philippine peso moved steadily this morning.

Meanwhile, the Taiwan dollar became the largest strengthening currency in the region after strengthening 0.17 percent against the US dollar this morning.