JAKARTA - The rupiah exchange rate on the spot market opened lower on Monday, September 28 trading. The rupiah opened slightly lower by 2 points to a level of Rp14,875 per US dollar (US).
Rupiah continued to move lower in early trading. Based on VOI monitoring at 09:22, the rupiah weakened 0.19 percent or 29 points to a level of Rp14,902 per US dollar.
Monex Investindo Futures Research Head, Ariston Tjendra said, actually positive sentiment was seen in the movement of risky assets in the Asian market this morning.
"Asian stock indexes have strengthened and regional exchange rates have also strengthened against the US dollar," Ariston told VOI.
Positive sentiment was boosted by data from China released on Sunday. China's industrial profit data grew 19.1 percent in August.
"The Chinese industry has recorded always experiencing profit growth since May after the pandemic ended in China which shows the economic recovery in the country," he explained.
Today, said Ariston, the rupiah could also be pushed to strengthen following this positive sentiment, with a potential range of IDR 14,750-14,850 per US dollar ..
"On the other hand, the market is still wary of the progress of the COVID-19 pandemic which is still increasing, which could encourage the government to re-implement a lockdown so that it can slow down economic recovery and push back risky assets," explained Ariston.
Until 09:00 WIB, the majority of currencies in the Asia Pacific are moving in the green zone. The Taiwan dollar was also the currency with the biggest gain in the region after rising 0.26 percent.
Followed by the Singapore dollar which rose 0.12 percent and the Japanese yen which strengthened 0.10 percent against the US dollar. Then there is the Philippine peso which has appreciated 0.08 percent.
Then, there was the Malaysian ringgit which rose 0.05 percent and the Chinese yuan which edged up 0.04 percent this morning.
Meanwhile, the South Korean won was the currency with the biggest weakness after dropping 0.10 percent. Followed by the Thai baht which weakened 0.04 percent against the US dollar.
Meanwhile, the Hong Kong dollar is seen slightly down 0.001 percent in trading this morning.
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