On Boxing Day, IDR is moving forward against the USD (Image via Market Bisnis)

Boxing day, IDR rises to Rp13,972/USD

Alfonsus Adi Putra
Market & Investment
Foreign Exchange & Interest Rate
Dec 26, 2019
1818
On Thursday’s foreign exchange (forex) spot market opening, the Indonesian Rupiah (IDR) is seen at Rp13,972 against the U.S Dollar (USD). The rate strengthened by 0.04 percent compared to Tuesday’s closing rate at Rp13,978/USD.

IDR is not alone. Most of the currencies in the Asia – ASEAN regions are seen strengthening on Boxing Day. The Philippines Peso (PHP) also strengthened by 0.20 percent, S. Korean Won (KRW) by 0.05 percent, Singaporean Dollar (SGD) by 0.03 percent, and Hong Kong Dollar (HKD) by 0.02 percent against the USD.

Nonetheless, some currencies fell shy in front of the USD. Japanese Yen (JPY) weakened instead by 0.15 percent, Thai Baht (THB) by 0.01 percent, and Indian Rupee (INR) by 0.11 percent against the USD.

Indonesian forex experts explained that the strengthening of IDR against the USD was supported by the two factors: the weakening of USD index and the positive signal from the trade negotiation between the U.S and China. The global market was optimistic that the bilateral relations between the U.S and China will be harmonious once more.

The optimism resurfaced after China vowed to buy more U.S products and lift the import curb on U.S imported goods.

The positive sentiment between the U.S and China is expected to bring IDR around Rp13.935 - Rp13.990/USD for Boxing Day.

Source: https://bit.ly/34Tw3Y0

Finance , Market , Investment , Forex , ASEAN , Indonesia , IDR , USD , Trade-war , U.S , China , Phase-One