JAKARTA - The rupiah exchange rate was able to maintain its strengthening at the opening of trading today. The rupiah opened on Friday, March 27, strengthening 1.23 percent to a level of Rp16,105 per US dollar.
Although not significant, this strengthening occurred in three consecutive days. Head of Research at Monex Investindo Futures, Ariston Tjendra, said market optimism was seen in the US stock index which strengthened considerably yesterday (more than 6 percent for Dow Jones).
According to Ariston, this was due to the US government's US $ 2 trillion stimulus to reduce the negative impact of the corona virus or COVID-19 on the US economy.
"This can also provide positive sentiment to risk assets today, including the rupiah," said Ariston to VOI.
He added that the US Senate has approved the stimulus proposal, only the US House of Representatives which is controlled by the Democratic party will give approval today.
"Today's rupiah has the potential to move up towards Rp. 16,000 with potential resistance at Rp. 16,305," he explained.
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