Monday Afternoon Rupiah Strengthens To IDR 15,413 Per US Dollar

Illustration. (Photo: Bank Indonesia)

JAKARTA - The rupiah exchange rate on the spot market was closed successfully strengthening on Monday, April 20 trading. The rupiah closed down 0.34 percent or 53 points to a level of Rp15,413 per US dollar.

Head of Research at Monex Investindo Futures, Ariston Tjendra, said positive sentiment for the strengthening of the rupiah was due to plans by some European and US countries to open lockdowns to reactivate the economy because the spread of the outbreak in these countries began to slope.

"In addition, the market is also optimistic about the progress of research on drugs for treating patients infected with the virus produced by the US Biopharmaceutical company, Gilead Science," explained Ariston to VOI.

This positive sentiment could encourage the strengthening of risk assets, including the rupiah. This afternoon, currency movements in Asia varied against the US dollar.

The Thai baht (0.28 percent), the Philippine peso (0.26 percent), the Taiwan dollar (0.08 percent) and the Singapore dollar (0.06 percent) were recorded.

Meanwhile, the weaker ones were the Japanese yen (0.20 percent), the Malaysian ringgit (0.21 percent), the South Korean won (0.19 percent), and the Indian rupee (0.18 percent).