Jakarta, CNBC Indonesia – The rupiah exchange rate against the United States (US) dollar strengthened slightly in trading this week. Amazingly, the rupiah was still able to strengthen in the midst of a wave of US dollar strength in Asia.
So far this week, the rupiah posted a 0.03% strengthening against the US dollar overall point-to-point. The rupiah ended the week at Rp 14,360/US$.
Even though it only strengthened slightly, the rupiah’s performance was better than the currencies of neighboring countries, the majority of which were depreciating in the past greenback. The South Korean won weakened 0.48%, the Taiwan dollar depreciated 0.82%, the Thai baht was minus 0.3%, the Malaysian ringgit was down 0.29%, and the Singapore dollar was down 0.48%.
The key to the strength of the rupiah is the swift flow of capital flowing into the country’s financial markets. Yesterday, foreign investors recorded a net buy (net buy) Rp 1.41 trillion in the Indonesian stock market. Throughout 2022, the net purchase value of foreign investors will reach IDR 37.52 trillion.
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