JAKARTA - The rupiah exchange rate on the spot market was opened stronger at the weekend trading. The rupiah opened up 5 points to a level of Rp16,655 per US dollar (US).
Even though it opened higher, the rupiah again showed signs of weakening. VOI monitored at 09.30, the rupiah weakened 0.10 percent or 14 pins to Rp14,674 per US dollar.
Head of Research at Monex Investindo Futures, Ariston Tjendra, said that the US fiscal stimulus, which had yet to be agreed upon, gave negative sentiment to the financial market this morning.
"Apart from the US government and the Democratic-controlled DPR, the US government also has a disagreement with the Republican-controlled Senate. This will encourage the strengthening of the US dollar against the world's major exchange rates this morning and has the potential to put pressure on the rupiah as well," explained Ariston to VOI.
Overnight also US economic data showed improvement, such as declining weekly jobless benefit claims data and increased home sales data.
"This good data also encourages the strengthening of the US dollar. The potential for weakening of the rupiah today is in the range of Rp14,600-14,750 per US dollar," said Ariston.
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