JAKARTA - The rupiah exchange rate is increasingly showing its strength against the US dollar. This morning, Wednesday, June 3, the rupiah opened up 182 points to a level of Rp14,233 per United States Dollar (US).
Head of Research at Monex Investindo Futures, Ariston Tjendra, said that the reopening of the economy in several pandemic countries and plans for new norms in Indonesia will still be a positive sentiment for strengthening the rupiah against the US dollar today.
"Market players do not seem to want to miss the train and are trying to get into risky assets immediately to get higher yields," explained Ariston to VOI.
He continued, the issue of rioting demonstrations in the US which have not been resolved to this day has also become one of the pressures for the US dollar because this demonstration could disrupt the US economy.
"On the other hand, the market is still wary of the continued issue of US and Chinese tensions that could turn things around if it continues to a trade war," he said.
This morning, the rupiah became the currency in Asia which led the strengthening. Followed by the South Korean won which strengthened 0.64 percent, and the Malaysian ringgit which appreciated 0.34 percent.
Then, the Indian rupee and the Philippine peso both gained 0.25 percent. Meanwhile the Taiwan dollar strengthened 0.16 percent, and the Singapore dollar strengthened 0.14 percent.
The currencies that weakened were the Chinese yuan (0.11 percent) and the Thai baht (0.06 percent).
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