Rupiah Strengthens to Rp 15,505 per US Dollar (Friday, April 17)

The Rupiah strengthened at the end of the week's trading (April 17th), opening at Rp 15,505/US$. Ariston Tjendra, Vice President of Monex Investindo Futures, explained that the market was filled with positive sentiment for risky assets due to plans to lift lockdowns in parts of Europe and the United States (US).

Positive sentiment also stemmed from news of progress in the development of a coronavirus drug by a US company, Gilead Sciences. The Rupiah is expected to move in the range of Rp 15,450/US$ - Rp 15,700/US$.

Quoting Bloomberg, most Asian currencies also strengthened. Only the Indian Rupee and the Hong Kong Dollar weakened, by 0.56% and 0.01% respectively. Meanwhile, the strongest gains were seen in the South Korean Won (0.78%), the Thai Baht (0.58%), and the Malaysian Ringgit (0.5%).