Rupiah Closed Wednesday Gains 30 Points To Rp14,410 Per US Dollar

Illustrated. (Irfan Meidianto / VOI)

JAKARTA - The rupiah exchange rate on the spot market closed higher on trading Wednesday, July 8. The rupiah closed slightly higher 0.21 percent or 30 points to a level of Rp14,410 per US dollar.

Head of Research at Monex Investindo Futures, Ariston Tjendra, said that the rupiah strengthened slightly, possibly being helped by positive sentiment towards Bank Indonesia's stimulus to help the government recover the economy amid the pandemic by buying government bonds to finance the state budget.

"But concerns over the increased transmission of COVID-19 have not disappeared, so there is a tug of war between positive and negative sentiment," Ariston told VOI.

This afternoon, currencies in the Asia Pacific region moved mixed in front of the US dollar. The strengthening was led by the rupiah, followed by the Taiwan dollar which strengthened 0.13 percent.

The Philippine peso has also strengthened, which has appreciated 0.07 percent. Then the Japanese yen and Malaysian ringgit both strengthened 0.02 percent.

The Singapore dollar was observed to gain 0.01 percent. Meanwhile, the South Korean won looks stagnant against the US dollar.

Meanwhile, the weaker currency was led by the Indian rupee which depreciated 0.11 percent. Followed by the Thai baht and Chinese yuan, which fell 0.07 percent and 0.05 percent, respectively.