Doubts About AstraZeneca Vaccine Make Rupiah Sluggish Friday Morning

Illustrated. (Irfan Meidianto / VOI)

JAKARTA - The rupiah exchange rate on the spot market opened slightly lower on Friday, November 27 trading. The rupiah opened lower by 0.03 percent or 5 points to the level of Rp14,105 per US dollar.

Head of Research at Monex Investindo Futures, Ariston Tjendra, said sentiment towards risky assets such as the rupiah this morning was quite mixed. The positive sentiment towards the vaccine test results was reduced as analysts doubted that the AstraZeneca vaccine test results were previously reported to be good.

"In addition, the increase in COVID-19 cases in the world also overshadows the price movement of risky assets," Ariston told VOI.

The strengthening of the rupiah could have been restrained today with these mixed sentiments. The rupiah is also still supported by a positive third quarter 2020 current account and the prospects for Indonesia's economic recovery in the fourth quarter.

"Today the rupiah has the potential to move in the range of Rp. 14,050-14,180 per US dollar," he said.

This morning in the Asian region, the rupiah weakened along with the majority of other currencies. The Malaysian ringgit led the Asian currency's decline against the US dollar by 0.14 percent weakening, followed by the Korean won, which fell 0.08 percent.

Then the Thai baht weakened 0.03 percent, the Chinese yuan weakened 0.03 percent, the rupiah weakened 0.03 percent, the Philippine peso weakened 0.01 percent, the Taiwan dollar weakened 0.007 percent and the Hong Jong dollar weakened 0.005 percent against the US dollar.