The Mighty Rupiah Has Broken Rp13,500 Per US Dollar

Illustration. (Photo: Bank Indonesia)

JAKARTA - The rupiah exchange rate strengthened at the close of trading Friday, January 24 this afternoon. The rupiah has entered the 13,500 level, and today it strengthened 56 points or 0.41 percent to the level of Rp13,583 per US dollar.

As a result, within a week, the rupiah had strengthened 0.45 percent. Meanwhile, throughout 2020, Garuda's currency has shot up 2.08 percent.

Head of Research at Monex Investindo Futures, Ariston Tjendra, said that the strengthening of the rupiah today was helped by the attitude of Bank Indonesia (BI) which did not hold back the strengthening of the rupiah.

"The improved December trade balance also helped strengthen the rupiah," Ariston told VOI, Friday, January 24.

The strengthening of the rupiah is in line with the majority of currencies in the Asian region. In which, the Chinese yuan managed to reverse direction and rebounded 0.50 percent and became the largest currency strengthening against the US dollar

In addition, the Philippine peso also gained 0.37 percent, followed by the Malaysian ringgit which rose 0.18 percent. Quarter three coins, the Korean won rose 0.10 percent, the Singapore dollar raised 0.07 percent. The same thing happened to the Taiwan dollar and Thai baht, which rose 0.04 percent and 0.02 percent, respectively.

Meanwhile, the Japanese yen fell the most by 0.12 percent. The Indian rupee and Hong Kong dollar were also in the red zone after falling by 0.05 percent and 0.01 percent, respectively.