Jakarta (ANTARA) - The rupiah is expected to not be able to defend itself from pressure in the Jakarta interbank market on Tuesday owing to tense relations between the United States and China.
At 9:29 a.m. local time on Tuesday, the rupiah plunged 40 points, or 0.27 percent, to trade at Rp14,780 per dollar as compared to Rp14,740 per dollar earlier.
The dollar appeared to strengthen against regional currencies on Tuesday morning, Research and Education Chief of Monex Investindo Futures Ariston Tjandra noted.
"This was triggered by concerns over tense US-China relations following the US plan to block trade with China's largest semiconductor producer," he explained.
Furthermore, indication of the US economic recovery also aided in strengthening the dollar, he remarked.
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"The US manufacturing and labor indexes released are better than this week’s projection," he stated.
Tjandra has forecast the rupiah to hover in the range of Rp14,650 to Rp14,850 per dollar on Tuesday.
The rupiah closed 10 points higher, up 0.07 percent, at Rp14,740 per dollar, on Monday, as compared to the earlier close of Rp14,750 per dollar.
The Rupiah expected to reel under pressure over tense US-China ties
Selasa, 8 September 2020 15:43 WIB
Rupiah banknote ANTARA/Shuterstock/pri. (ANTARA/Shuterstock).
At 9:29 a.m. local time on Tuesday, the rupiah plunged 40 points, or 0.27 percent, to trade at Rp14,780 per dollar as compared to Rp14,740 per dollar earlier.
