JAKARTA - The rupiah exchange rate (exchange rate) transacted between banks in Jakarta at the beginning of the week continued to strengthen on the back of positive domestic and global sentiment.
The rupiah closed up 99 points or 0.72 percent at Rp13,673 per US dollar compared to the previous day's position of Rp13,772 per US dollar.
Director of PT Garuda Berjangka Ibrahim Assuaibi said that the easing of geopolitical tensions in the Middle East has resulted in world crude oil prices weakening again, even touching their lowest level at 59 dollars per barrel, which has a positive impact on the rupiah.
"We must know that currently Indonesia is a net oil importer country in the Southeast Asia region so that it will put pressure on the Garuda currency. When the price of oil falls, the cost of importing this commodity will also decrease so that the trade balance will be better maintained and this will have a positive impact. make the rupiah currency, "said Ibrahim in Jakarta, Monday, January 13.
Meanwhile, this week the market is also waiting for the signing of a phase one trade agreement between the US and China.
It is hoped that the trade war between the two countries that has been going on since mid-2018 will be over or at least the risk of escalation will decrease again.
In the phase one trade agreement, US President Donald Trump said that the import duty of 15 percent on imported products from China worth US $ 120 billion would later be cut to 7.5 percent.
Meanwhile, from the Chinese side, Trump said that China would immediately begin purchasing agricultural products from the United States, which in total would reach 50 billion US dollars.
In the morning, the rupiah opened, it strengthened by Rp13,744 per US dollar. During the day, the rupiah moved in the range of Rp. 13,673 per US dollar to Rp. 13,744 per US dollar.
Meanwhile, Bank Indonesia's middle rate on Monday showed that the rupiah strengthened to Rp13,708 per US dollar compared to the previous day's position of Rp13,812 per US dollar.
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