Alleviation of the tension between the U.S and Iran brought IDR a bit higher. (Image via Market Bisnis)

The U.S and Iran alleviate, IDR rises to Rp13,850/USD

On Friday’s foreign exchange (forex) spot market opening, Indonesian Rupiah (IDR) is seen strengthening at Rp13,850 against the U.S Dollar (USD). The rate strengthened by 0.03 percent compared to Thursday’s closing rate at Rp13,854/USD. For today, IDR is moving around Rp13.800 - Rp13.820/USD.

Nonetheless, today, the majority of currencies in the Asia – ASEAN regions weakened against the USD. Reportedly, S. Korean Won (KRW) weakened by 0.13 percent, Turkish Lira (TRY) by 0.06 percent, Japanese Yen (JPY) by 0.02 percent, and Hong Kong Dollar (HKD) weakened slightly by 0.01 percent against the USD.

Sharing the same joy as IDR, only Thai Baht (THB) and Singaporean Dollar (SGD) strengthened by 0.05 percent and 0.03 percent against the USD.

Meanwhile, in the developed country regions, the majority of currencies also weakened against the USD. Great Britain Pound sterling (GBP) weakened slightly by 0.01 percent, and Canadian Dollar (CAD) by 0.08 percent against the USD. Australian Dollar (AUD) remains stagnant, and the European Union Euro (EUR) strengthened slightly by 0.01 percent against the USD.

Indonesian forex experts said that the strengthening of IDR is caused by two factors. First, the alleviation of the tension between the U.S and Iran; and second, the Phase One negotiation is already set on 15 January 2020.

Source: https://bit.ly/2R1x8I9