The Rupiah Is Predicted To Weak Today, Shadowed By Corona Virus

JAKARTA - The rupiah exchange rate was opened stagnant at the opening of trade this morning. The rupiah exchange rate opened at the level of Rp13,583 per US dollar on Monday January 27 trading.

Based on VOI monitoring, at 09.00, the rupiah was then observed moving to a level of Rp13,590 per US dollar with a thin depreciation of 7.5 points or 0.06 percent.

Head of Research at Monex Investindo Futures, Ariston Tjendra, said that the rupiah was still overshadowed by concerns over the spread of the corona virus. Even though until now there has been no report of the spread of the corona virus outbreak in Indonesia, concerns over the outbreak of the virus could push down risk assets in emerging markets this morning, including Indonesia.

"Last weekend, many reports reported an increase in the number of deaths from this virus and more countries that this virus entered," Ariston told VOI, Monday, January 27.

Ariston predicts that today the rupiah will move lower in response to these concerns. "Maybe back to the area of Rp. 13,640, support at Rp. 13,540," he said.

This morning, apart from the rupiah, the majority of Asian currencies weakened. Quoted from Bloomberg, the Hong Kong dollar fell 0.03 percent, the Singapore dollar 0.24 percent, the Taiwan dollar 0.2 percent, the South Korean won 0.75 percent, the Philippine peso 0.23 percent, the Indian rupee 0.08 percent, and Thai baht 0.24 percent

Meanwhile, the Japanese yen, Chinese yuan and Malaysian ringgit strengthened against the currency of Uncle Sam's country. The details, the yen rose 0.26 percent, the yuan 0.46 percent, and the ringgit 0.26 percent.