JAKARTA - The rupiah exchange rate on the spot market closed higher on Monday, July 13 trading. The rupiah closed up 0.07 percent or 10 points to the level of Rp 14,425 per US dollar.
Head of Research at Monex Investindo Futures, Ariston Tjendra, said there was optimism in the financial market regarding the potential for global economic recovery so that risky assets such as the rupiah strengthened.
"The market is flooded with liquidity due to the central bank's stimulus to divert liquidity to buy assets with higher yields such as assets in emerging markets," Ariston told VOI.
However, he continued, concerns over the transmission of COVID-19 had not yet disappeared because the level of transmission continued to rise so that strengthening was held back.
Majority StrengthenUntil 15.00 WIB, the majority of currency movements in the Asia Pacific region were still in the green zone. The biggest gain was printed by the South Korean won which strengthened 0.33 percent against the US dollar.
Followed by the Taiwan dollar which rose 0.22 percent and the Philippine peso which rose 0.08 percent. Next there was the Singapore dollar which rose 0.07 percent and the Indian rupee which flew 0.06 percent.
Then there was the Malaysian ringgit, which rose 0.05 percent and the Hong Kong dollar appreciated 0.03 percent. Furthermore, there is the Thai baht which is seen edging up 0.006 percent against the US dollar.
Meanwhile, the Japanese yen and Chinese yuan fell into the red zone. The yen was the currency with the biggest weakness after dropping 0.08 percent and the yuan weakening 0.02 percent.
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