JAKARTA - The rupiah exchange rate in trading today, Monday, January 13 morning, opened up 0.2 percent to Rp 13,744 per US dollar. The strengthening of the rupiah is in line with optimism for the phase I trade agreement between the United States and China which will be signed this week.
Judging from Bloomberg, the rupiah moved to the position of Rp 13,710 per US dollar or strengthened 0.45 percent until 09.00 WIB. The majority of Asian currencies also moved higher against the US dollar. The Chinese yuan rose 0.1 percent, the Malaysian ringgit 0.28 percent, the Thai baht 0.88 percent, the Indian rupee 0.38 percent, the South Korean won 0.49 percent, the Taiwan dollar 0.28 percent, the Philippine peso 0.27 percent , and the Singapore dollar 0.06 percent.
"This week the market will focus on the signing of the US-China phase 1 trade agreement and the schedule for the phase 2 discussion," said Vice President Monex Investindo Futures Ariston Tjendra.
He explained that the US was quite confident in signing a trade deal with China so far. Chinese media also reported that Deputy Prime Minister Liu He would come to the US today January 13 local time to sign the trade agreement.
The United States has ensured China's commitment to the first phase of the trade deal remains unchanged during the translation process of the document which will be signed in Washington last week. The trade agreement document is planned to be signed on January 15, 2020.
US Treasury Secretary Steven Mnuchin told Fox News Channel that the deal with China that was reached on December 13 has not changed. China agreed to purchase US $ 40 billion to US $ 50 billion worth of agricultural products annually and a total of US $ 200 billion of US goods over two years.
Good trade relations between the US and China can help restore global economic growth because these two countries are the two largest economies in the world.
"Therefore, the market is still quite optimistic. The rupiah still has the opportunity to strengthen today and moves in the range of Rp. 13,700 to Rp. 13,800 per US dollar," said Ariston.
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