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Indonesian Rupiah led the strengthening of the Asia - ASEAN currencies. (Image via Tempo.co)
IDR leads the ASEAN with Rp16,205/USD
On Thursday’s foreign exchange (forex) spot market opening, Indonesian Rupiah (IDR) is seen at Rp16,205 against the U.S Dollar (USD). The rate strengthened by 1.79 percent compared to Wednesday’s closing rate at Rp16,540/USD. For today, IDR is moving around Rp16,300 - Rp16,575/USD.IDR is leading the strengthening of the currencies in the Asia – ASEAN regions today. Reportedly, Japanese Yen (JPY) strengthened by 0.51 percent, the Philippines Peso (PHP) by 0.31 percent, S. Korean Won (KRW) by 0.29 percent, and Thai Baht (THB) by 0.14 percent against the USD.
Nonetheless, some currencies weakened instead. Chinese Yuan (RMB) weakened by 0.7 percent, Malaysian Ringgit (MYR) by 0.18 percent, Singaporean Dollar (SGD) by 0.09 percent, and Hong Kong Dollar (HKD) 0.03 percent against the USD.
On the other side of the world, the currencies in the developed countries region weakened instead against the USD. The Australian Dollar (AUD) weakened by 1.3 percent, the Canadian Dollar (CAD) by 0.32 percent, Great Britain Pound sterling (GBP) by 0.31 percent, and Russian Ruble (RUB) by 0.15 percent.
Only the European Union Euro (EUR) and Swiss Franc (CHF) strengthened against the USD by 0.3 percent and 0.23 percent respectively.
Indonesian forex experts stated that the IDR’s strengthening today is sponsored by the positive sentiment from the global governments' stimulus, one of which came from the United States (U.S).
Source: https://bit.ly/39lEWvE
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