Closed Tuesday Rupiah Strengthens To Rp13,675 Per US Dollar

Illustration. (Photo: Bank Indonesia)

JAKARTA - The rupiah exchange rate on the spot market strengthened at the close of trading this afternoon, Tuesday 11 February. The rupiah strengthened 37 points or 0.27 percent to a level of Rp13,675 per US dollar.

Monex Investindo Futures Head Researcher Ariston Tjendra said the strengthening of risk assets including the rupiah was supported by the injection of funds by the Chinese Central Bank this morning of 100 billion yuan via repo operations.

"In addition, the decline in the rate of new people getting infected with the corona virus as reported today also helps reduce anxiety and shore up risky assets," he told VOI.

The strengthening of the rupiah is in line with currencies in the region. The Korean won managed to become the currency with the highest increase against the US dollar after strengthening 0.49 percent.

Followed, the Philippine peso rose 0.36 percent. The Malaysian ringgit and Thai baht also lifted 0.25 percent and 0.22 percent, respectively.

The Taiwan dollar and Singapore dollar also gained strength, which strengthened 0.15 percent and 0.10 percent respectively. Then the Chinese yuan rose 0.11 percent.

Furthermore, the Hong Kong dollar and Indian rupee edged up 0.04 percent and 0.02 percent, respectively. Meanwhile, the Japanese yen was the weakest currency after dropping 0.06 percent.