The rupiah exchange rate has the potential to continue strengthening on Monday (31/5) in line with the potential for Indonesia's economic recovery during this pandemic period to obtain higher yields.

"Foreigners are taking advantage of the potential for economic recovery in Indonesia, where news of the flow of foreign funds into Indonesia reached Rp6.13 trillion over the past week," said Money Market Observer Ariston Tjendra in Jakarta.

There is potential for rupiah strengthening to around 14,260 per dollar. In contrast, the potential for weakening is in the range of 14,320 per dollar.

On the other hand, the strengthening could be limited because the market is still overshadowed by the increase in global COVID-19 cases, resulting in several countries on lockdown, including Malaysia and Singapore, which could hamper economic recovery.