Jakarta, ThedailyID — The Indonesian rupiah strengthened to Rp17,748 per US dollar on Thursday (August 20), gaining 92 points or 0.52% from the previous trading session.
The rupiah gained as Asian currencies posted mixed movements against the US dollar. The Chinese yuan rose 0.11%, the Philippine peso gained 0.26%, the Malaysian ringgit strengthened 0.48%, and the Singapore dollar rose 0.02%.
Meanwhile, the Japanese yen weakened 0.21%, the South Korean won fell 0.33%, and the Hong Kong dollar declined 0.03%.
Major developed-market currencies also moved unevenly. The euro rose 0.12%, the British pound gained 0.20%, and the Canadian dollar strengthened 0.26%. The Australian dollar was stable, while the Swiss franc weakened 0.13%.
Lukman Leong, a currency analyst at DOO Financial Futures, said the rupiah and other global currencies benefited from positive sentiment over a US government plan to intervene in long-term bond yields.
He said the plan involves doubling US government buyback operations for long-term bonds.
Lukman also said the latest Bank Indonesia Board of Governors Meeting helped support the rupiah.
“Investors also responded positively to the results of yesterday’s BI Board of Governors Meeting, which supported the rupiah,” Lukman told CNNIndonesia.com.
