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IDR is rising once more thanks to the alleviation of condition regarding the novel coronavirus. (Image via Market Bisnis)
IDR rises to Rp13,695/USD after coronavirus calms down
On Thursday’s foreign exchange (forex) spot market opening, Indonesian Rupiah (IDR) is seen at Rp13,659 against the U.S Dollar. The rate strengthened by 0.23 percent compared to Wednesday’s closing rate at Rp13,684/USD. For today, the IDR is moving around Rp13,660 - Rp13,730/USD.Today, the majority of currencies in Asia – ASEAN regions strengthened against the USD. Reportedly, S. Korean Won (KRW) strengthened by 0.74 percent, New Taiwan Dollar (NTD) by 0.40 percent, and the Philippines Peso (PHP) strengthened slightly by 0.02 percent.
However, some currencies withered instead in the presence of the USD. Singaporean Dollar (SGD) weakened by 0.19 percent, Thai Baht (THB) by 0.16 percent, and Malaysia Ringgit by 0.14 percent against the USD.
On the other side of the world, the currencies of the developed countries region reacted variously against the USD. Great Britain Pound sterling (GBP) and the Canadian Dollar (CAD) both weakened by 0.09 and 0.01 percent respectively.
While the Australian Dollar (AUD) and the European Union Euro (EUR) both strengthened by 0.17 percent and 0.01 percent respectively against the USD.
Indonesian forex experts said that the IDR’s strengthening was caused by the positive sentiment from the decreasing concern in the market toward the outbreak of the novel coronavirus from China. A vaccine for the novel coronavirus developed by Robin Shattock, a British scientist, gave further positive vibe for IDR’s rate.
However, they still warn about the lurking danger of the novel coronavirus.
Source: https://bit.ly/385bLNr
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