Rupiah Strengthens This Morning To IDR 15,088 Per US Dollar

Illustrated. (Irfan Meidianto / VOI)

JAKARTA - The rupiah exchange rate was opened slightly lower at the opening of trading Tuesday, May 5. The rupiah opened 15 points lower to a level of Rp15115 per US dollar.

However, according to VOI's monitoring at 09:14, the rupiah moved up 0.08 percent to a level of Rp15,088 per US dollar.

Monex Investindo Futures Head Researcher Ariston Tjendra said positive sentiment seemed to return to financial markets this morning following the strengthening of the US stock index overnight and the strengthening of crude oil prices.

"Positive sentiment comes from the plan to ease lockdown in the US because of the positive cases of the COVID-19 virus, although there are concerns that opening the lockdown will lead to a second wave of outbreaks," Ariston told VOI.

He added that the strengthening of crude oil prices indicates that the market is starting to see the potential for economic recovery in the near future.

"Domestically, the market will look forward to the first quarter GDP data which is predicted by the market to grow 4.04 percent year on year (yoy). If the data is released higher than expectations, this could be a support for the strengthening of the rupiah today," he explained.

He predicts that today the rupiah will move in the range of IDR 14,800-15,150 per US dollar.