While weakening, IDR has the chance to prove its strength today. (Image via Bisnis Tempo.co)

IDR weakens to Rp15,470/USD

Alfonsus Adi Putra
Market & Investment
Foreign Exchange & Interest Rate
Apr 20, 2020
2022
On Monday’s foreign exchange (forex) spot market opening, Indonesian Rupiah (IDR) is seen at Rp15,470 against the U.S Dollar (USD). The rate weakened by 5 basis points or 0.03 percent from Friday’s closing rate at Rp14,465/USD.

Today, the majority of currencies of Asia – ASEAN countries. Malaysian Ringgit (MYR) weakened by 0.51 percent, Japanese Yen (JPY) by 0.22 percent, and S. Korean Won (KRW) by 0.14 percent. Then, the Philippines Peso (PHP) went down by 0.09 percent, Singaporean Dollar (SGD) by 0.08 percent, and Chinese Yuan (RMB) by 0.04 percent.

Only Thai Baht (THB) strengthened by 0.16 percent, while Hong Kong Dollar (HKD) remains stagnant.

On the other side of the world, the majority of currencies of the developed countries weakened altogether. Russian Ruble (RUB) weakened by 0.55 percent, the Canadian Dollar (CAD) by 0.45 percent, the Australian Dollar (AUD) by 0.25 percent, Swiss Franc (CHF) by 0.16 percent, Great Britain Pound sterling (GBP) by 0.12 percent, and European Union Euro (EUR) by 0.1 percent against the USD.

Fortunately, Indonesian forex experts predicted that today IDR will strengthen. For today, IDR is moving around Rp15,300 - Rp15,550/USD.

The main sentiment that supports IDR’ strengthening is the loosing of lockdown policy in the U.S and other European nations amid the novel coronavirus disease (COVID-19) pandemic. The policy is loosened because the positive cases of COVID-19 have decreased significantly.

Moreover, one of the leading pharmaceutical companies, Gilead Sciences from the U.S, reportedly is developing medicines for COVID-19.

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

Market , Investment , Forex , Finance , Economy , ASEAN , Indonesia , IDR , USD , COVID-19