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Thanks, Donald Trump! IDR is moving forward to Rp16,206/USD. (Image via Bisnis Tempo.co)
Trump's speech hoists IDR to Rp16,206/USD
On Thursday’s foreign exchange (forex) spot market opening, Indonesian Rupiah (IDR) is seen at Rp16,206 against the U.S Dollar (USD). The rate strengthened by 44 basis points or 0.27 percent compared to Wednesday’s closing rate at Rp16,250/USD. For today, IDR is moving around Rp16,150 - Rp16,350/USD.Today, the currencies of Asia – ASEAN nations showed different reactions. Some currencies strengthened. Reportedly, S. Korean Won (KRW) strengthened by 0.51 percent, Malaysian Ringgit (MYR) by 0.15 percent, and the Philippines Peso (PHP) by 0.1 percent.
Meanwhile, the Hong Kong Dollar (HKD) remains stagnant.
On the other hand, some currencies withered instead. Reportedly, the Japanese Yen (JPY) weakened by 0.11 percent, Thai Baht (THB) by 0.09 percent, and the Singaporean Dollar (SGD) by 0.01 percent against the USD.
On the other side of the world, the majority of currencies strengthened. Only the Canadian Dollar (CAD) weakened by 0.01 percent against the USD.
The rest remain on the green level. Great Britain Pound sterling (GBP) strengthened by 0.16 percent, European Union Euro (EUR) by 0.09 percent, Russian Ruble (RUB) by 0.07 percent, Swiss Franc (CHF) by 0.04 percent, and the Australian Dollar (AUD) by 0.04 percent against the USD.
The Indonesian forex experts stated that the future of IDR lies in the positive sentiment on the optimism of the U.S economy. The President of the U.S, Donald Trump, pledged to eradicate the novel coronavirus (COVID-19) pandemic outbreak by rolling out more economic stimulus packages.
However, the negative sentiment is still lurking at the corner, where the global positive cases reached at least 1.51 million. From the number, 88,415 people died and 329,329 people recovered.
Source: https://bit.ly/3e5OUF1
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