JAKARTA - The rupiah exchange rate on the spot market opened up slightly at the opening of trading on Friday, January 24. The rupiah strengthened 2 points or 0.01 percent to a level of Rp13,638 per US dollar.
Based on VOI's observation, at 09.00, the rupiah was getting stronger. It was observed during this hour that the rupiah strengthened 0.03 percent to the level of Rp.13,635 per US dollar
Head of Research at Monex Investindo Futures, Ariston Tjendra, said that the movement of the rupiah still has the potential to strengthen today following the strengthening of other Southeast Asian currencies this morning against the US dollar.
"The easing of concerns over the impact of the corona virus is still driving the strengthening. But the market is still wary of this outbreak in case this outbreak spreads," Ariston told VOI, Friday, January 24.
In addition, the strengthening factor of the rupiah was also due to the low yields on the 10-year US bonds which also helped strengthen against the US dollar. Currently, the yield is in the range of 1.74 percent after yesterday succeeded in touching the 1.71 percent range, the lowest level since December 5, 2019.
Ariston also predicts that today the rupiah will move in the range of IDR 13,600-13,670.
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