Rupiah Strengthened Thursday, Driven By US Fiscal Stimulus Sentiment

Illustrated. (Irfan Meidianto / VOI)

JAKARTA - The rupiah exchange rate on the spot market opened in the green zone on Thursday December 3 trading. The rupiah opened up 0.02 percent to a level of Rp. 14,120 per US dollar.

Monex Investindo Futures Head Researcher, Ariston Tjendra, said that the US fiscal stimulus sentiment had put pressure on the US dollar yesterday, but today the market is likely to pay attention to the stimulus approval process, which is getting opposition from the Democrats in parliament.

"This refusal could prevent the US dollar from weakening today against other exchange rates. The strengthening of the rupiah could be restrained today," Ariston told VOI.

According to him, today's rupiah is predicted to move in the range of IDR 14,100-14,150 per US dollar.

This morning at 09.00 WIB, the majority of currencies in the region are in the green zone. The South Korean won is still Asia's biggest strengthening currency after gaining 0.15 percent.

Followed by the Chinese yuan which rose 0.12 percent. Next there is the Taiwan dollar and the Singapore dollar which both strengthened 0.09 percent against the US dollar.

Then, the Malaysian ringgit has appreciated 0.09 percent. This was followed by the Philippine peso which lifted 0.03 percent and the Thai baht which slightly strengthened by 0.003 percent this morning.

Furthermore, the Japanese yen became the currency with the deepest weakness in the region after dropping 0.10 percent. Then the Hong Kong dollar moved slightly with a tendency to weaken against the US dollar.