BI Lowering The Interest Rate To Make Loyo Rupiah For Three Consecutive Days

JAKARTA - The rupiah exchange rate on the spot market has reopened to weaken. At the opening of trade on Friday, November 20, the rupiah was opened to weaken 0.05 percent to the level of Rp14,162 per US dollar (US).

The rupiah continued to weaken against the US dollar. It has been three days since the rupiah opened in a weak condition.

"Domestic sentiment is that the decision to lower the benchmark interest rate could reduce the rupiah's rate against the US dollar," said Monex Investindo Futures Research Head, Ariston Tjendra, to VOI.

On the other hand, the movement of risky assets in Asian markets this morning looks mixed. market concerns about the increase in COVID-19 cases in the world which put pressure on risky assets clashed with hopes of the vaccine's effectiveness.

"But on the other hand, the US dollar looks under pressure against the exchange rate of emerging markets this morning," he explained.

According to him, the rupiah can move within a narrow range and may also strengthen following the movement of the exchange rates of other emerging market countries.

"The potential for rupiah movement today is in the range of Rp. 14,100-14,200 per US dollar," he explained.