Trump Says Vaccines Start Distributed, Rupiah Strengthens Monday Morning

Illustrated. (Irfan Meidianto / VOI)

JAKARTA - The rupiah exchange rate on the spot market opened stronger in trading at the beginning of this week or the end of November 2020. The rupiah opened up 20 points or 0.14 percent to a level of Rp14,070 per US dollar on Monday November 30 trading.

Head of Research at Monex Investindo Futures, Ariston Tjendra, said that the US dollar looked weak this morning because of Donald Trump's statement at the end of last week about vaccines that would begin to be distributed in early December. Meanwhile the US dollar index scored a new 2020 low this morning at around 91.67.

"This boosted positive sentiment on the financial market and triggered a strengthening of the exchange rate against the US dollar, including emerging market exchange rates," Ariston told VOI.

According to him, the rupiah could also strengthen today with the potential to reach a support range of IDR 14,000 with resistance at IDR 14,150 per US dollar.

This morning, currencies in the Asian region were observed to move mixed against the US dollar. It was noted that the Japanese yen strengthened 0.19 percent, the Taiwan dollar rose 0.09 percent, the Chinese yuan rose 0.08 percent, and the Thai baht rose 0.07 percent.

While the South Korean won weakened 0.01 percent, the Philippine peso weakened 0.11 percent, the Indian rupee fell 0.22 percent, and the Malaysian ringgit fell 0.01 percent.