Rupiah Strengthens 1.57 Percent To Level Rp15,630 Per US Dollar

Illustration. (Photo: Bank Indonesia)

JAKARTA - The rupiah exchange rate ended up significantly strengthening on Monday, April 13 trading. The rupiah strengthened 250 points or 1.57 percent to a level of Rp15,630 per US dollar.

The rupiah strengthened amid the weakening of the majority of other Asian currencies. Apart from the rupiah, the Japanese yen that strengthened.

Meanwhile, a number of other Asian currencies weakened against the US dollar. Starting from the Singapore dollar, Taiwan dollar, Philippine peso, Malaysian ringgit to Thai baht.

The South Korean won was the worst hit, weakening 0.76 percent against the US dollar.

Monex Investindo Futures Head Researcher Ariston Tjendra said that sentiment today is indeed negative for risk assets due to the increasing rate of positive cases of COVID-19 in the world.

Meanwhile, according to Ariston, the strengthening of the rupiah was due to the market maybe still responding positively to the bilateral repo line cooperation between BI and the Fed worth US $ 60 billion which increased dollar liquidity at Bank Indonesia.