JAKARTA - The rupiah exchange rate on the spot market closed higher on trading Tuesday, May 5. The rupiah closed up 20 points or 0.13 percent to a level of Rp15,080 per US dollar.
Monex Investindo Futures Head Researcher, Ariston Tjendra said, although Indonesia's first quarter GDP data released was worse than expected, the rupiah was still supported by positive sentiment on global financial markets.
"The sentiment is in the form of anticipating easing lockdowns in several countries because the COVID-19 outbreak has started to slope and the price of crude oil has risen, indicating market optimism," Ariston told VOI.
This afternoon, the majority of currencies in the Asian region were able to strengthen against the US dollar. The South Korean won took the lead with a gain of 0.73 percent.
Followed by the Malaysian ringgit (0.31 percent), the Chinese yuan (0.19 percent), the Philippine peso (0.15 percent), the Indian rupee (0.12 percent), and the Thai baht (0.03 percent).
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