Jakarta, The Indonesia Post – The rupiah exchange rate (exchange rate), which was transacted between banks in Jakarta earlier this week, strengthened by breaking through the psychological level of Rp14,000 per US dollar.
At 10:12 am WIB, the rupiah had strengthened 35 points or 0.25 percent to Rp13,995 per US dollar from the previous closing position of Rp14,030 per US dollar.
“The rupiah has the opportunity to strengthen against the US dollar today because the US employment data, non-farm payrolls, released below market expectations in January have pushed the US dollar down,” said Ariston Tjendra, Head of Research and Education at Monex Investindo Futures in Jakarta, Monday.
According to Ariston, the pessimistic employment data lowered expectations of a faster economic recovery in the US.
In addition, he continued, the results of the data increase the chances of the release of the US $ 1.9 trillion fiscal stimulus package which is needed for the US economic recovery.
“This expectation could increase market interest in risky assets today,” he said. Ariston estimates that the rupiah today will move in the range of IDR 13,980 per US dollar to IDR 14,080 per US dollar.
On Friday (5/2/2021), the rupiah closed down 15 points or 0.11 percent to IDR 14,030 per US dollar from the previous day’s closing position of IDR 14,015 per US dollar. (icn/bbs)
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