Thanks to the trade war, IDR is riding a roller coaster. (Image via Vibiznews)

U.S - China trade war shows positive sign, IDR reigns once more

Alfonsus Adi Putra
Market & Investment
Foreign Exchange & Interest Rate
Nov 04, 2019
2383
On Monday’s opening spot foreign exchange (forex) market, the Indonesian Rupiah (IDR) rate is seen at Rp14,002 against the U.S Dollar (USD). The rate strengthened by 0.26% or 36 points compared to its rate on the weekends at Rp14,038/USD. For today, IDR is more likely to move around Rp13,970 - Rp14,050/USD.

Today, the majority of currencies in Asian regions strengthened against USD. S. Korean Won (KRW) strengthened by 0.31 %, Malaysian Ringgit by 0.21 %, and Turkish Lira (TRY) by 0.13 %.

Singaporean Dollar (SGD) strengthened by 0.05 %, Thai Baht (THB) by 0.06 %. However, the Japanese Yen (JPY) and the Hong Kong Dollar (HKD) withered 0.03 % against the USD.

In the developed regions, the majority of currencies also strengthened against the USD. Canadian Dollar (CAD) and Australian Dollar (AUD) strengthened by 0.01% and 0.05 % respectively. Meanwhile, Great Britain Pound sterling (GBP) and European Union Euro (EUR) withered against the USD by 0.04 and 0,03 % respectively.

Indonesian forex experts explained that the strengthening of IDR was thanks to the positive vibe and strong possibility of a trade deal between the United States (U.S) and China in November.

Besides, the appeasing Brexit issue among the market players and benchmark interest rate cut by the Federal Reserve still contributed to the strengthening of IDR.

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