JAKARTA - The rupiah exchange rate managed to "survive" from the level of Rp. 16,000 per US dollar. Even though it was weakening, the rupiah was still at the level of around Rp. 15,000. On Friday, March 20, the rupiah closed down 47 points or 0.30 percent at the level of Rp15,960 per US dollar.
Quoting Bloomberg, at 15:23, the rupiah weakened by 260 points or 1.63 percent to a level of Rp16,173 per US dollar.
Monex Investindo Futures Head of Research, Ariston Tjendra said currencies in Asia generally strengthened against the US dollar, such as the Singapore dollar, Thai baht, Philippine peso, Malaysian ringgit and South Korean won.
"Asian stock indexes are also positive, such as Hangseng and Shanghai. IHSG also strengthened," said Ariston to VOI.
According to Ariston, there was bargain hunting (collecting shares at low prices) in stocks which helped strengthen the respective exchange rates. The rupiah finally weakened slightly today due to this positive sentiment.
"But the strengthening is still slim, the possibility of reversing next week is still open if concerns arise again," said Ariston.
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