JAKARTA, NETRALNEWS.COM - Rupiah exchange rate at the interbank level in Jakarta on Monday (11/25/2019) evening has risen in line with market intervention by the central bank.
The rupiah was closed six points higher to IDR14,086 per US dollar, as compared to the previous day's position of IDR14,092 per dollar.
"Bank Indonesia's intervention in the foreign exchange (forex) and bond markets in the DNDF trade brought blessings to the Indonesian currency, despite negative external data. Therefore, the rupiah at the beginning of the week strengthened again, and this growth was the strongest in Asia," said PT Garuda Berjangka's President Director Ibrahim Assuaibi in Jakarta, Monday.
Externally, the market digested comments from US President Donald Trump about China, which raised hopes that the two sides would sign a trade agreement soon.
Trump said the deal with China was "potentially very close," and also indicated that he might not sign a bill passed this week by Congress that supports Hong Kong in an effort to calm Beijing.
The increased tensions over Hong Kong, however, have emerged as new complication in trade talks, which appear to be slowing down after making progress on the US-China trade agreement.
Hong Kong has been rocked by more than five months of anti-government protests, and Beijing has reacted angrily to parts of US law in support of protesters, which Congress has approved but have not yet signed by Trump.
The rupiah opened lower Monday morning at IDR14,094 per US dollar. Throughout the day, the rupiah moved in the range of IDR14,083 per dollar to IDR14,094 per dollar.
Meanwhile, Bank Indonesia's middle rate on Monday showed the rupiah strengthened to IDR14,093 per dollar, compared to the previous day at IDR14,092 per dollar.