TEMPO.CO, Jakarta - The rupiah became the strongest Asian currency among its neighbors. This morning, the Garuda recorded the highest climb against the US dollar.
Tempo's RTI Business recorded that as of 10:19 this morning in Jakarta, January 7, the rupiah was being traded for 14,090 per US dollar. The rate shows a 180-bps or 1.26-percent climb in just a few hours.
During today's trade opening, the rupiah was traded for 14,270 per US dollar.
Other Asian currencies also appreciated but nowhere near the rupiah's climb rate. The Thailand bath gained 0.47 percent, The Chinese reminbi rose 0.45 percent, the Singapore dollar rose 0.1 percent, and the Japanese yen climbed 0.28 percent.
Samuel Sekuritas economist Ahmad Mikail said the rupiah shot up due to the US dollar depreciation against most major currencies, following Fed governor Jerome Powell's statement indicating the US central bank might hold off interest hike; in line with their dovish monetary policy.
Mikail said the rupiah will receive additional boost as there is a chance of a US-China trade negotiation this week in Beijing, which would serve as another negative sentiment for the greenback.