Rupiah Strengthens 0.4 Percent on Monday's Trade Closing

Monday, 05-July-2021 16:40

illustration: US dollar and rupiah bills
Image : Special
illustration: US dollar and rupiah bills

JAKARTA, NETRALNEWS.COM - Rupiah exchange rate at the inter-bank level in Jakarta is closed on the rise on Monday, in response to the published labor data from the United States (US).

The Indonesian currency was closed increasing by 56 points or 0.39 percent to IDR14,477 per US dollar, as compared to the position at the close of the previous trading of IDR14,533 per US dollar.

"The dollar index weakened against other currencies after the latest US jobs report eased concerns about an earlier-than-expected increase in US interest rates," said Ibrahim Assuaibi, director of PT TRFX Garuda Berjangka in Jakarta, on Monday (07/05/2021).

Data on non-farm employment or non-farm payrolls went up more than expected, reaching 850,000 workers in June. Even so, the US unemployment rate in June rose to 5.9 percent from 5.8 percent in the previous month.

Investors are now waiting for the minutes from the latest meeting of the Federal Open Market Committee (FOMC) for setting interest rates by the US central bank, the Federal Reserve (Fed), due later this week.

The dollar index, which measures the dollar's strength against other major currencies, is currently at 92.155, down from its previous trade closing position of 92.226.

Meanwhile, the 10-year US bond yield is currently at the level of 1.431 percent, down from the previous closing position of 1.48 percent.

As reported by Antara, the Rupiah opened lower in the morning to IDR14,488 per US dollar. Throughout the day the rupiah moved in the range of IDR14,473-IDR14,495 per US dollar.

Reporter : turkhan
Editor : turkhan