The rupiah against the US dollar (USD) rose in the spot market on Monday (26/3/2018). The Bloomberg Index noted that rupiah opened up 2 points or 0.01% to Rp13,780 per USD, compared to Friday's close at Rp13,782 per USD.
The rupiah position strengthened 16 points or 0.12% to Rp13,766 per USD at 10.00 WIB. The same thing is also observed in dataYahoo Finance, where the rupiah this morning has a muscle of 8 points or 0.06% to Rp13.770 per USD, versus last Friday at Rp13.778.
The Jakarta Interbank Spot Dollar Rate (Jisdor) reference rate for Bank Indonesia, the currency of the Republic of Indonesia on Monday, appreciated 4 points to Rp13,776 per USD, compared to Friday's position at Rp13,780 per USD.
The rupiah took advantage of a trade war between the United States and China, which sparked fears about global economic growth. The global market was shaken after US President Donald Trump beat a trade war with China, imposing a tariff on Chinese goods up to $ 60 billion.
The USD index, which measures the dollar against six major currencies, stayed at 89.453, almost the same as the one-month low of 89.356.
As a result, the dollar slumped to a 16-month low against the Japanese yen on Monday, trading at 104.835 yen, the weakest position since November 2016. The dollar has slumped 1.2% against the yen, as a result of a trade war.
The Swiss franc strengthened to 0.9467 per USD, after rising 0.55 percent against the greenback last week. Euro rose to USD1,2364 per EUR. Currency strategist at Daiwa Securities, Yukio Ishizkuki, said concerns over the US and Chinese trade wars have worried trade today. So investors jumped by buying the yen and Swiss franc as a safe-haven asset.
