ilustration IDR and US Dollar

DKI's Normal New Transition Holds Rupiah from US Dollar Strike

The rupiah exchange rate was in the position of Rp. 14,710 per US dollar in the spot market trading on Thursday (4/6) afternoon. This position is stagnant from the rupiah position on Wednesday (3/6). While the Bank Indonesia (BI) reference rate, the Jakarta Interbank Spot Dollar Rate (Jisdor) places the rupiah in the position of Rp.14,165 per US dollar or strengthens from Rp14,245 per US dollar on Wednesday (3/6).

In Asia, the rupiah stagnated with the Hong Kong dollar. Only the Philippine peso strengthened 0.23 percent of Uncle Sam's currency. While the rest are in the red zone, such as the Malaysian ringgit weakening 0.34 percent, the Singapore dollar minus 0.29 percent, and the South Korean won minus 0.18 percent. Then, the Japanese yen minus 0.16 percent, the Chinese yuan minus 0.14 percent, Indian rupees minus 0.13 percent, and the Thai baht minus 0.06 percent.

Similarly, the major currencies of developed countries, all compact weakened from the US dollar. Russian rubles weakened 0.62 percent, the British pound minus 0.47 percent, the Australian dollar minus 0.33 percent, the European euro minus 0.28 percent, the Canadian dollar minus 0.01 percent, and the Swiss franc minus 0.01 percent.

Analyst and PT Garuda Indonesia Futures Futures Director Ibrahim Assuaibi said the mighty US dollar from many currencies in the world because the sentiment of US economic data releases began to improve. One of them, the US non-manufacturing index from the Institute of Supply Management (ISM) rose from 44.4 percent to 45.4 percent in May 2020.

"The release of US economic data today is quite convincing," Ibrahim told CNNIndonesia.com.

Domestically, the rupiah tends to stagnate, so that it does not weaken like most Asian currencies because the Provincial Government of DKI Jakarta will begin to loosen Large Scale Social Restrictions (PSBB) this month.

Source: http://shorturl.at/chjkD