Rupiah Strengthens Slowly, Closed At Rp14,710 Per US Dollar On Wednesday

Illustration. (Photo: Bank Indonesia)

JAKARTA - The rupiah exchange rate on the spot market closed higher in trading today, Wednesday, May 20. The rupiah was able to strengthen 60 points or 0.41 percent to a level of Rp14,710 per US dollar.

Monex Investindo Futures Head Researcher, Ariston Tjendra this morning, said positive sentiment was still visible in the financial markets this morning despite the US financial market experiencing pressure last night.

The market is still optimistic, with the economy starting to move again and the development of the COVID-19 outbreak that has decreased in several pandemic countries. Vaccine developments also still support market optimism.

This afternoon, currencies in the Asian region varied against the US dollar. Apart from the rupiah, those that strengthened against the US dollar were the Thai baht (0.26 percent), the Philippine peso (0.06 percent), and the Hong Kong dollar (0.01 percent).

Meanwhile most currencies in Asia weakened against the US dollar, led by the South Korean won, which weakened 0.41 percent. Followed by the Indian rupee which weakened 0.21 percent, the Chinese yuan which fell 0.10 percent, and the Taiwan dollar which weakened 0.09 percent.

The Singapore dollar fell 0.05 percent, and the Malaysian ringgit was down 0.03 percent against the US dollar.