Jakarta - The rupiah exchange rate against the US dollar on Monday (23/8) has the potential to strengthen in line with optimism about the opportunities for future economic recovery.

"Although economic conditions have been overshadowed by the global COVID-19, the market also looks optimistic about the opportunities for economic recovery," said money market observer Ariston Tjendra in Jakarta.

According to Ariston, the market opening earlier this week saw more positive market sentiment.

Market participants were re-entering risky assets taking advantage of buy-on dip opportunities.

Asian stock indexes were positive at the open. Regional exchange rates were also seen strengthening against the US dollar.

The rupiah exchange rate has the potential for strengthening today to the range of 14,380 per US dollar, with a resistance of 14,460 per US dollar.