TEMPO.CO, Jakarta - The rupiah exchange rate strengthened this afternoon, August 3, 2021, following the government’s announcement on the extension of the level-based public mobility restriction dubbed PPKM Level 4.
At 15:34 Jakarta time, the rupiah gained 0.56 percent or 80 points to Rp14,342 per US dollar. Meanwhile, the US dollar index was corrected by 0.04 percent to 92.012.
The Director of TRFX Garuda Berjangka, Ibrahim Assuaibi, said one of the contributing factors to the rupiah's strengthening was the positive sentiments, both from home and abroad.
“The markets responded positively to the government's policy of PPKM level 4 which is extended until August 9, 2021. And the PPKM level 4 is applied evenly in all Indonesia regions, not only in Java-Bali,” Ibrahim wrote in a release on Tuesday.
The PPKM Level 4 was extended, Ibrahim went on, due to various considerations, such as the rising trend of Covid-19 cases outside Java and Bali.