Rupiah Trying To Get To The Rp13,000 Level Today

Illustrated. (Irfan Meidianto / VOI)

JAKARTA - The rupiah exchange rate on the spot market opened stronger today, Friday, June 5. The rupiah opened up 0.14 percent or 20 points to a level of IDR 14,075 per United States dollar (US).

Monex Investindo Futures Head Researcher Ariston Tjendra said the strengthening of risk assets was somewhat restrained this morning as the market evaluated worsening economic data such as labor data which still showed an increase in unemployment.

"Tonight the market will be looking forward to the US-Non Farm Payrolls employment data," Ariston told VOI.

However, risky assets still have the potential to strengthen today as the market still responds positively to the economic opening of the country due to COVID-19.

"Coupled with the new stimulus plans from several countries such as the US, Japan and the Eurozone which will help economic recovery in the future," he said.

Global market conditions today will be influenced by the US still in discussions to launch a new fiscal stimulus, the European Central Bank will provide funds of more than 1 billion euros for the bond purchase program.

"Then the Japanese central bank plans to multiply aid to the SME sector," explained Ariston.

According to him, the rupiah still has the potential to strengthen today with the above positive sentiment. The plan to implement the new normality is also a positive factor for the strengthening of the rupiah because the economy will be active again.

"Today the rupiah has the potential to strengthen towards support in the range of Rp. 14,000, with potential resistance at 14,200 per US dollar," he concluded.