On Wednesday Morning, Rupiah Strengthens To Rp. 14,710 Per US Dollar

Illustrated. (Irfan Meidianto / VOI)

JAKARTA - The rupiah exchange rate on the spot market was still strong at the start of trading today, Wednesday, October 7. The rupiah opened up 0.17 percent or to a level of Rp14,710 per US dollar (US).

Head of Research at Monex Investindo Futures, Ariston Tjendra, said the news of the delay in negotiating the two US stimulus packages until after the election by President Donald Trump had boosted the strengthening of the US dollar in financial markets and gave negative sentiment to risk assets.

"The market is worried that the economic recovery will be disrupted. This issue also has the opportunity to suppress the movement of the rupiah against the US dollar," Ariston told VOI.

According to him, the strengthening of the rupiah after the passage of the Job Creation Law could be delayed. Today the rupiah has the potential to move in the range of IDR 14,650-14,800 per US dollar.

As of 09.00 WIB, the Taiwan dollar was the currency with the biggest strengthening in Asia after gaining 0.31 percent. Followed by the Singapore dollar, which strengthened 0.07 percent against the US dollar.

Meanwhile, the Thai baht became the region's deepest weaker currency after dropping 0.28 percent. Next was the Malaysian ringgit, which corrected 0.16 percent and the Philippine peso, which fell 0.12 percent against the US dollar.

Then there was the South Korean won, which depreciated 0.10 percent and the Japanese yen, which was eroded 0.05 percent. Furthermore, the Hong Kong dollar also weakened slightly in trading this morning.