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Celebrating the U.S President's Day, IDR also rose. (Image via Market Bisnis)
U.S President's Day, IDR rises to Rp13,655/USD
On Tuesday’s foreign exchange (forex) spot market opening, Indonesian Rupiah (IDR) is seen at Rp13,655 against the U.S Dollar (USD). The rate strengthened by 0.04 percent compared to Monday’s rate at Rp13,660/USD.Today, the majority of currencies in Asia – ASEAN regions weakened against the USD. Reportedly, S. Korean Won (KRW) weakened by 0.30 percent, Philippines Peso (PHP) by 0.21 percent, and Malaysian Ringgit by 0.11 percent.
Next, Thai Baht (THB) also weakened by 0.09 percent, Turkish Lira (TRY) by 0.04 percent, New Taiwan Dollar (NTD) 0.03 percent, and Singaporean Dollar (SGD) 0.06 percent.
Only the Japanese Yen (JPY) shared the same joy as IDR by strengthening by 0.05 percent against the USD.
In the developed countries region, the majority of currencies also weakened instead against the USD. The Australian Dollar (AUD) and Canadian Dollar (CAD) weakened by 0.26 percent and 0.04 percent respectively. Both the European Union Euro (EUR) and Great Britain Pound sterling (GBP) withered by 0.05 percent.
Indonesian foreign experts said that IDR strengthened due to the minimal macroeconomic data during the U.S President’s Day which gave a high market impact. On the other hand, China’s Central Bank also showed a positive sentiment by injecting liquidity to smoothen the economic growth due to the novel coronavirus, COVID-19.
Source: https://bit.ly/2HBAKMA
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