Rupiah Strengthens Early Week Driven By United States Vaccination Plan

Illustrated. (Irfan Meidianto / VOI)

JAKARTA - The rupiah exchange rate on the spot market opened higher on Monday, November 23 trading. Based on VOI monitoring at 9:15 a.m., the rupiah moved to strengthen by 0.05 percent to the level of Rp14,158 per US dollar (US).

Head of Research at Monex Investindo Futures, Ariston Tjendra, said this morning positive sentiment was seen overshadowing the movement of risk assets in Asian markets.

"The plan for the United States' COVID-19 vaccination in early December 2020 sparked positive sentiment this morning," Ariston told VOI.

This morning, said Ariston, the US dollar weakened against other exchange rates, including emerging market exchange rates. Asian stock indexes also look stronger.

"The rupiah could also be pushed to strengthen today with a potential range of Rp. 14,100-14,200 per US dollar," he said.

This morning, currencies in the Asian region were observed to move mixed against the US dollar. It was noted that the Japanese yen strengthened 0.13 percent, the Taiwan dollar strengthened 0.05 percent, the Indian rupee strengthened 0.17 percent.

Then, the Singapore dollar strengthened 0.12 percent, the South Korean won strengthened 0.13 percent, the Philippine peso strengthened 0.09 percent, the Chinese yuan strengthened 0.32 percent, the Malaysian ringgit strengthened 0.12 percent, and the Thai baht strengthened 0.15. percent.