JAKARTA - The rupiah exchange rate at the close of trading Wednesday, January 29, ended up strengthening. The rupiah strengthened 56 points or 0.41 percent to the level of Rp13,583 per US dollar.
Head of Research at Monex Investindo Futures, Ariston Tjendra, said the strengthening of the rupiah was because the market was still paying attention to the development of the corona virus outbreak. But attention may be diverted to the US central bank's monetary policy decision at dawn, where the Fed is expected to support loose monetary policy.
"The Fed's potential position will help weaken the US dollar against the rupiah," Ariston told VOI, Wednesday, January 29.
Other Asian currencies that have strengthened include the Indian rupee being the strongest currency against the US dollar after gaining 0.15 percent. The Malaysian ringgit followed by 0.12 percent appreciation and the Japanese yen rose 0.08 percent. This was followed by the Hong Kong dollar, which edged up 0.03 percent.
Meanwhile, other currencies are in the red zone with the Thai baht as the top loser after falling 0.56 percent. Followed by the Singapore dollar and Korean won, which fell respectively 0.14 percent and 0.06 percent. Meanwhile, the Philippine peso was also slightly corrected by 0.06 percent.
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