Rupiah Closed Up Thin 15 Points To Rp14,395 Per US Dollar Thursday

Illustrated. (Irfan Meidianto / VOI)

JAKARTA - The rupiah exchange rate on the spot market closed higher on trading Thursday, July 9. The rupiah closed slightly higher 0.10 percent or 15 points to a level of Rp14,395 per US dollar (US).

Head of Research at Monex Investindo Futures, Ariston Tjendra, previously said that market players chose to focus on the potential for economic recovery in the midst of the pandemic, which provided positive sentiment for risky assets. This was able to encourage the strengthening of the rupiah.

Several economic data also showed recovery, such as data on Japanese machinery orders for May which increased 1.7 percent compared to the previous month. In addition, the year on year (yoy) China Consumer and Producer Price Index data for June showed improvement.

This afternoon, the majority of currencies in the Asia Pacific region strengthened against the US dollar. The gain was led by the Malaysian ringgit which has appreciated 0.30 percent.

Followed by the Chinese yuan which strengthened 0.24 percent. The Philippine peso and Thai baht gained 0.17 percent and 0.04 percent, respectively. The Japanese yen and Indian rupee were able to slightly strengthen 0.03 percent and 0.02 percent.

Meanwhile, the currency weakened against the US dollar, led by the Taiwan dollar which weakened 0.07 percent. Then the Singapore dollar and the South Korean won both fell 0.03 percent.