JAKARTA - The movement of the rupiah exchange rate opened stronger on Wednesday, March 11 trading. The rupiah strengthened 0.33 percent or 47 points to a level of Rp14,305 per US dollar.
Head of Research at Monex Investindo Futures, Ariston Tjendra, said that the efforts of developed country governments, which yesterday announced their stimulus plans, had helped increase market interest in risky assets, including the rupiah.
"But financial markets are still volatile, concerns about COVID-19 are still huge. If market expectations for stimulus are not met, negative sentiment will return to financial markets," Ariston told VOI.
He predicted that the rupiah would move in the range of Rp. 14,280-14,400 per US dollar today.
This morning, the rupiah strengthened along with the majority of other Asian currencies. The Japanese yen led the strengthening of Asian currencies against the US dollar by 0.76 percent gain, the Korean won was up 0.24 percent.
The Taiwan dollar rose 0.07 percent, the Philippine peso rose 0.04 percent, and the Singapore dollar strengthened 0.01 percent against the US dollar.
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