Global positive sentiments help rupiah climb to Rp14,820 per USD

Global positive sentiments help rupiah climb to Rp14,820 per USD

Illustration - A bank employee shows Indonesian rupiah and US dollar notes in Jakarta (ANTARA FOTO/Rosa Panggabean/pri.)

The money market still looks at the positive sentiments arising from the large acquisition of US companies, the resumed clinical trials of the AstraZeneca COVID-19 vaccine, and the rising US Stock Index overnight
Jakarta (ANTARA) - Global positive sentiments had a positive impact on the Indonesian rupiah that strengthened against the US dollar in the Jakarta interbank market on Tuesday morning.

The rupiah rose 60 points, or 0.4 percent, to open at Rp14,820 per dollar from Rp14,880 per dollar earlier.

"The money market still looks at the positive sentiments arising from the large acquisition of US companies, the resumed clinical trials of the AstraZeneca COVID-19 vaccine, and the rising US Stock Index overnight," Chief of Research and Education of Monex Investindo Futures Ariston Tjendra stated on Tuesday.

Before The Fed’s announcement of the results of its meeting early on Thursday, the market expects the US central bank to issue a dovish or pessimistic statement on the US economic recovery and maintain the loose policy for a longer period of time.

"The expectation will potentially lend a positive sentiment to risk assets and exert pressure on the US dollar," he pointed out.

Tjendra has projected the rupiah to strengthen within the range of Rp14,750 to Rp14,950 per dollar on Tuesday.

The rupiah rose 10 points, or 0.07 percent, to close at Rp14,880 on Monday against Rp14,890 earlier.

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