The Rupiah Is Opened Stronger Friday, Impact Of European And Chinese Economic Recovery Data

Illustrated. (Irfan Meidianto / VOI)

JAKARTA - The rupiah exchange rate on the spot market moved slightly stronger at the start of trading today, Friday 4 December. The rupiah opened up 0.01 percent or two points to the level of Rp14,138 per United States dollar (US).

Monex Investindo Head Researcher Ariston Tjendra said there were two sentiments that would affect the movement of the dollar against other currencies today.

First, the weakening economic sentiment that pushed the dollar index to fall back to its record low. This is due to the approval of the use of the Pfizer vaccine in the UK.

"Economic data showing the recovery from Europe and China, for example, also bring strength to risk assets and a weaker dollar," he told VOI.

Next up is the progress of additional fiscal stimulus in the US that looks set to go smoothly.

"Yesterday there were doubts that the US stimulus was blocked by the democrats in parliament because of its small value. But last night there were good developments indicating that the Democrats agreed," he added.

Until 09.05 WIB, most currencies in Asia are in the green zone. The South Korean won became the region's biggest strengthening currency after gaining 0.62 percent.

Followed by the Malaysian ringgit which rose 0.14 percent and the Taiwan dollar which increased 0.11 percent. Next was the Thai baht, which strengthened 0.09 percent against the US dollar.

Then there is the Philippine peso and the Japanese yen, which have both appreciated 0.02 percent. And the Singapore dollar is seen slightly strengthening 0.007 percent in trading this morning.

Meanwhile, the Chinese yuan became the currency with the deepest weakness in Asia after dropping 0.13 percent. Followed by the Hong Kong dollar, which was seen slightly weaker by 0.006 percent against the US dollar.