Various Positive Sentiments Will Push Up Rupiah Today

Illustration. (Photo: Bank Indonesia)

JAKARTA - The rupiah exchange rate on the spot market opened lower on trading Tuesday, April 28. The rupiah opened down 20 points to a level of Rp15,405 per US dollar.

Based on VOI monitoring at 09:12, the rupiah was still moving to weaken to the position of Rp15,430 per US dollar, or down 0.29 percent.

Head of Research at Monex Investindo Futures, Ariston Tjendra, said that today the financial market can get positive sentiment from the Dow Jones index strengthening overnight, which anticipates plans to open lockdowns in several US states.

"The positive sentiment could also strengthen if the Bank of Japan (BOJ) announces an unlimited bond purchase stimulus today," Ariston told VOI.

But on the other hand, he said, the market is still worried about the economic downturn due to the outbreak and the decline in crude oil prices.

"The rupiah has the potential to strengthen to the range of Rp15,300 with a resistance range of Rp15,500 per US dollar," he said.

This morning, the rupiah weakened along with the majority of other Asian currencies. The rupiah became the second weakest currency in Asia after the Malaysian ringgit which weakened 0.49 percent against the US dollar.

Meanwhile, the Singapore dollar weakened 0.17 percent, the Thai baht weakened 0.12 percent, the Korean won weakened 0.07 percent, the Japanese yen weakened 0.02 percent, the Chinese yuan weakened 0.01 percent and the Hong Kong dollar weakened 0.006 percent against US dollar.