JAKARTA - The rupiah exchange rate on the spot market closed higher on trading Wednesday, May 27. The rupiah closed up 45 points or 0.31 percent to a level of Rp14,710 per United States dollar (US).
Head of Research at Monex Investindo Futures, Ariston Tjendra, said that the rupiah strengthened slightly against the US dollar following the positive sentiment of the financial market, which anticipated plans to reactivate the economy in several countries affected by the outbreak.
"Recently, Japan lifted a state of emergency," explained Ariston to VOI.
However, he continued, the market was wary of the new tensions between the US and China, driven by the US government.
"This is holding back the strengthening of risk assets including the rupiah," said Ariston.
This afternoon, the movements of Asian currencies against the US dollar were mixed. The rupiah led this afternoon's strengthening, followed by the Malaysian ringgit which strengthened 0.16 percent, and the Thai baht which strengthened 0.08 percent.
The currencies that experienced weakness against the US dollar were led by the Chinese yuan which weakened 0.25 percent, the Philippine peso (0.23 percent), the Taiwan dollar (0.15 percent), the Singapore dollar 0.08 percent and the Indian rupee (0 , 06 percent).
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