JAKARTA - The rupiah exchange rate on the spot market opened up 20 points or 0.15 percent to a level of Rp13,695 per US dollar at the start of trading this Wednesday, February 5.
Based on VOI monitoring, at 09.05, the rupiah moved down 1 point or 0.01 percent to a level of Rp13,714 per US dollar.
Head of Research at Monex Investindo Futures, Ariston Tjendra, said market sentiment turned positive yesterday until this morning, able to encourage the strengthening of risky assets including the rupiah.
"The injection of funds from the Chinese central bank into the market Monday and Tuesday eased market anxiety about the economic slowdown in China due to the virus and fueled the positive sentiment," Ariston told VOI.
He said, the intensive handling of the Chinese government to localize the outbreak and look for a corona virus vaccine also gave positive sentiment
"In addition, the recently released US economic data which is better than projected such as manufacturing data and factory orders also helps positive market sentiment," he explained.
He estimates that today the rupiah will move in the range of IDR 13,670-13,730 per US dollar.
This morning, movements in Asian currencies were mixed. Apart from the rupiah, strengthening also occurred in the Taiwan dollar, yen, won and peso. Meanwhile, the Singapore dollar, ringgit, baht and Hong Kong dollar weakened against the US dollar.
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