JAKARTA - The rupiah exchange rate continues to strengthen. The rupiah opened up significantly by 125 points or 0.90 percent to Rp14,255 per US dollar on Friday, November 6 trading.
Head of Research at Monex Investindo Futures, Ariston Tjendra, said that sentiment towards the rupiah still came from the US Presidential Election (Pilpres).
"The unfinished vote count and allegations of vote manipulation have not prevented the market from anticipating Biden's potential victory in the 2020 US elections by tapping into risky assets," Ariston told VOI.
Ariston added that yesterday's large strengthening of the rupiah could be a momentum for today's strengthening. The conducive domestic conditions after the enactment of the Ciptaker Law and the signal of economic recovery from the third quarter GDP can also help strengthen.
This morning, the majority of currencies in the Asian region were observed to strengthen against the US dollar. The Malaysian ringgit strengthened 0.10 percent, the Thai baht strengthened 0.44 percent, the Taiwan dollar strengthened 0.09 percent.
Then, the South Korean won strengthened 0.27 percent, the Philippine peso strengthened 0.05 percent, and the Indian rupee strengthened 0.48 percent.
Meanwhile the Japanese yen weakened 0.14 percent, the Singapore dollar weakened 0.12 percent, and the Chinese yuan weakened 0.20 percent.
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