TEMPO.CO, Jakarta - The rupiah closed today's trade with a gain of 15 bps or 0.1 percent. The rupiah climbed to trade for IDR 15,385 per US dollar, up from last week's close of IDR 15,400.
This means that the rupiah interbank spot rate is still gaining momentum during the last minutes of trading at the beginning of this week.
"The market was happy with news that the US and a number of European countries in Europe will start to loosen social distancing rules as well as lockdowns," TRFX Garuda Berjangka director Ibrahim Assuaibi said in Jakarta, Monday, 27 April, 2020.
This week, Colorado, Mississippi, Minnesota, Montana, and Tennessee are preparing to follow Georgia, Oklahoma, Alaska and South Carolina, which had previously reopened their economy.
As infection rate began to slow-down down in America, Donald Trump allowes states to relax their social distancing policies as well as lockdowns. The US Centers of Disease Control and Prevention or CDC recorded that as of April 25, 2020, the country has 895,766 positive cases—increasing by 3.49 percent from the day before; indicating a flattening curve.
Other positive sentiments from the rupiah are the steadying price of oil and reports that the Bank of Japan (BoJ) is considering to buy unlimited amounts of bonds to keep borrowing costs low, as part of Japan's stimulus policy against Covid-19. The BoJ will announce its decision tomorrow.