Rupiah is likely to strengthen to the US dollar on grounds of its previous strengthening.
Jakarta (ANTARA) - The rupiah exchange rate to the US dollar transacted at the Jakarta interbank market on Tuesday morning opened positive as the US central bank, Federal Reserve (Fed), delayed tapering.

The Indonesian currency opened eight points higher, or 0.05 percent, to Rp14,215 per US dollar as compared to Rp14,223 per US dollar during the closing of the previous trade.

“The rupiah is likely to strengthen against the US dollar on grounds of its previous strengthening,” Money market analyst Ariston Tjendra told Antara here on Tuesday.

The sentiment on delayed tapering due to unexpected US employment data continues to trigger the US dollar to weaken, according to Tjendra.

“In addition, the COVID-19 condition and the economic activity easing in Indonesia have also driven to appreciate the rupiah exchange rate,” he highlighted.

The daily COVID-19 case count in the country as of Monday (September 6) reached 4,413 cases that added to the 4.13 million total confirmed COVID-19 positive cases.

Meanwhile, the death toll due to COVID-19 reached 612, thereby totalling 136,473. On the other hand, the number of recoveries rose by 13,049, adding to 3.85 million of the total recovered patients. Thus, the total count of active COVID-19 cases reached 146,271.

With regard to vaccination, the number of residents receiving the first dose of vaccine reached 67.16 million, while those administered the second dose reached 38.47 million of the targeted 208 million residents.

Tjendra noted that the rupiah today potentially strengthened, from Rp14,180 to Rp14,200 per US dollar, with its potential resistance at Rp14,260 per US dollar.

On Monday, September 9, 2021, the rupiah closed 40 points higher, or 0.28 percent, to reach Rp14,223 per US dollar as compared to Rp14,263 per US dollar during the previous trade’s closure.

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Translator: Juwita Trisna Rahayu
Editor: Sri Haryati
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