1Berita – The exchange rate of the rupiah closed at Rp15,418 per US dollar on Thursday (28/12). The Indonesian currency strengthened by 12 points or 0.08 percent from the previous trading session.

Meanwhile, the Bank Indonesia (BI) Jakarta Interbank Spot Dollar Rate (Jisdor) reference rate placed the rupiah at Rp15,416 per US dollar in the afternoon trading.

Currencies in the Asian region mostly ended in the green zone. The Indian Rupee rose by 0.16 percent, the Philippine Peso surged by 0.26 percent, the Singapore Dollar grew by 0.27 percent, the Malaysian Ringgit soared by 0.38 percent, the South Korean Won advanced by 0.40 percent, the Chinese Yuan strengthened by 0.53 percent, the Thai Baht surged by 0.58 percent, and the Japanese Yen rocketed by 0.78 percent.

Meanwhile, the only currency experiencing weakness was the Hong Kong dollar, which fell by 0.04 percent.

In fact, currencies of developed countries uniformly strengthened. The British Pound gained 0.14 percent, the Euro grew by 0.11 percent, the Swiss Franc surged by 0.50 percent, the Canadian Dollar rose by 0.14 percent, and the Australian Dollar strengthened by 0.08 percent.

Commodities and Currency Analyst Lukman Leong noted that the rupiah strengthened against the US dollar amid a ‘risk-on’ sentiment in the market.

“And the weakening of the US dollar is due to increased expectations of interest rate cuts by The Fed in March (2024),” he said.