Jakarta, CNBC Indonesia – The exchange rate of the rupiah against the United States dollar (US) moving lower in spot market trading this morning. It seems that investors are still not satisfied with selling rupiah because the profits have already been many.
On Thursday (12/11/2020), US $ 1 was equivalent to IDR 14,070 when the spot market opened. Exactly compared to the previous day’s trade closing position or stagnant.
However, soon the rupiah weakened. At 09:06 WIB, US $ 1 was valued at Rp.14,100, where the rupiah had weakened 0.21%.
Yesterday, the rupiah closed spot market trading with a 0.21% depreciation against the US dollar. This is the first correction after six straight trading days of strengthening. In those six days, the appreciation of the rupiah reached nearly 4%.
From the end of October until yesterday, the rupiah still strengthened by 3.79% point-to-point. The country’s currency is still the best in Asia.
Therefore, the temptation to reap cuan is indeed very big. Market players have ‘won a lot’ from rupiah, it would be a shame if it is not immediately disbursed. Selling pressure continued to hit the rupiah, causing its exchange rate to weaken.
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