The Rupiah Strengthened Wednesday Morning, Driven By US Stimulus That Trump Offered

Illustrated. (Irfan Meidianto / VOI)

JAKARTA - The rupiah exchange rate on the spot market opened in the green zone on Wednesday, October 21 trading. The rupiah strengthened 23 points or 0.15 percent to the level of Rp14,635 per United States dollar (US).

Head of Research at Monex Investindo Futures, Ariston Tjendra, said the rupiah had the potential to strengthen today after last night there were indications that US stimulus might be released before the election.

"Last night there was an interesting development about the stimulus that pushed gold prices higher. The Trump side offered a bigger stimulus proposal value than the Democrats which indicates Trump's desire to get a deal and launch stimulus before the US election on November 3," Ariston told VOI.

The good news, according to Ariston, was responded positively by the market and the prices of risky assets strengthened. This morning, the price of risky assets was still seen strengthening and the rupiah might also strengthen today.

"Today the rupiah has the potential to move in the range of Rp. 14,550-14,750 per US dollar," he said.

This morning, all Asian currencies compacted against the US dollar. The Korean won strengthened 0.5 percent, the Chinese yuan 0.14 percent, the Malaysian ringgit 0.13 percent.

Then, the Thai baht strengthened 0.12 percent, the Singapore dollar 0.11 percent, the Japanese yen 0.09 percent, the Philippine peso 0.01 percent.