Rupiah Opens Weaker at Rp 15,405/US$ (Tuesday, April 28)

The Indonesian Rupiah opened weaker at Rp 15,405/US$ in Tuesday's, April 28th, trading. Bhima Yudhistira, a researcher at the Institute for Development of Economics and Finance (INDEF), predicts the Rupiah has the potential to strengthen today. This strengthening is influenced by the easing of lockdown policies implemented by several countries, such as Italy, Spain, and New Zealand.

Furthermore, Bhima mentions that positive sentiment also comes from the correction of the US dollar index to the 100 level, decreasing by 0.11% in the last week. "Investors are starting to enter risky assets, indicated by the strengthening of the US stock index," he said. Citing Bloomberg, the majority of Asian currencies are weakening. Some of them are the Malaysian Ringgit (0.5%), the Singapore Dollar (0.18%), and the Thai Baht (0.12%).

Meanwhile, currencies that are strengthening include the Indian Rupee (0.28%), the Taiwan Dollar (0.05%), and the Philippine Peso (0.03%).