JAKARTA - The rupiah exchange rate on the spot market closed higher this weekend. The rupiah was able to strengthen 0.17 percent or 25 points to a level of IDR 14,860 per US dollar.
Head of Research at Monex Investindo Futures, Ariston Tjendra, said there were several sentiments about lifting the rupiah today. One of them is that Indonesia's trade balance deficit of 350 million US dollars is quite small.
"But this is understandable by the market because global economic conditions are also in a downturn. So it doesn't really affect the rupiah," Ariston told VOI.
In general, said Ariston, the movement of risky assets today looks mixed, some are positive and some are negative. Expectations are still deteriorating in economic data as the outbreak has put downward pressure on risk assets.
"But on the other hand, the start of economic activity in several pandemic countries has provided positive sentiment to the market," he explained.
According to him, the movement of the rupiah was still in line with the forecast this morning. However, the high market interest in Indonesian government bonds is able to support the strengthening of the rupiah today.
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