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IDR strengthens to Rp16,155/USD today. (Image via Tempo.co)
IDR strengthens to Rp16,155/USD
On Monday’s foreign exchange (forex) spot market opening, Indonesian Rupiah (IDR) is seen at Rp16,155 against the U.S Dollar (USD). The rate strengthened compared to the rate on Friday last week, at Rp16,170/USD. For today, IDR is moving around Rp16,200 - Rp16,400/USD.Today, the majority of currencies in the Asia – ASEAN regions weakened against the USD. Reportedly, S. Korean Won (KRW) weakened by 1.22 percent, Philippines Peso (PHP) by 0.16 percent, New Taiwanese Dollar (NTD) 0.11 percent, Thai Baht (THB) by 0.37 percent, Hong Kong Dollar (HKD) by 0.01 percent, Malaysian Ringgit (MYR) by 0.55 percent, and Singaporean Dollar (SGD) by 0.08 percent.
Only the Japanese Yen (JPY) and Chinese Yuan (RMB) strengthened by 0.70 percent and 0.05 percent against the USD.
On the other side of the world, the majority of currencies in the developed countries region also weakened against the USD. Great Britain Pound sterling (GBP) weakened by 0.49 percent, the Canadian Dollar (CAD) by 0.43 percent, and the Australian Dollar (AUD) by 0.47 percent.
The strengthening of IDR today is caused by the unlimited stimulus package, worth US$2 trillion, consented by the U.S Senate on Friday last week. The Senate revised the remuneration policy for American people with a salary below $2,500 so that they could get a $1,200 incentive.
For now, the U.S became the center of the novel coronavirus (COVID-19) pandemic outbreak, where three states are being temporarily closed, including Washington D.C.
Source: https://bit.ly/2RbgPJZ
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