Indonesian Rupiah strengthened to Rp15,000ish today. Will it last? (Image via Bisnis Tempo.co)

IDR rises to Rp15,800/USD

On Monday’s foreign exchange (forex) spot market opening, Indonesian Rupiah (IDR) is seen at Rp15,800 against the U.S Dollar (USD). The rate strengthened by 0.50 percent compared to Thursday’s closing rate at Rp15,880/USD.

Today, the majority of currencies of Asia – ASEAN nations are weakening against the USD. Only the Japanese Yen (JPY) and Indian Rupee (INR) strengthened by 0.37 percent and 0.06 percent respectively.

Meanwhile, Singaporean Dollar (SGD) weakened by 0.27 percent, New Taiwanese Dollar (NTD) by 0.09 percent, S. Korean Won (KRW) by 0.84 percent, Philippines Peso (PHP) by 0.08 percent, Chinese Yuan (RMB) 0.16 percent, Malaysian Ringgit (MYR) by 0.23 percent, and Thai Baht (THB) by 0.28 percent against the USD.

Hong Kong Dollar (HKD) remains stagnant against the USD.

On the other side of the world, the currencies of the developed nations reacted variously against the USD. Reportedly, Great Britain Pound sterling (GBP) and Swiss Franc (CHF) strengthened by 0.11 percent and 0.01 percent respectively.

Meanwhile, the Australian Dollar and (AUD) Canadian Dollar (CAD) 0.17 percent and 0.06 percent against the USD.

However, Indonesian forex experts stated that IDR will weaken on today’s trade market. The surge in the number of novel coronavirus disease (COVID-19) cases will bring negative sentiments on the global and domestic economy.

Globally, COVID-19 infects more than 1.85 million people per Monday. From the number 114,106 died and 422,572 recovered. Indonesia recorded 4,241 cases, with 373 deaths and 359 recoveries. The large-scale social distancing (PSBB) in Jakarta has not yielded its fruit, at least until 5 – 6 days ahead.

Source: https://bit.ly/3b5pLbt