Rupiah Weakened 3 Consecutive Days

JAKARTA - The rupiah exchange rate has continued to weaken in the past three days. The rupiah on the spot market opened lower by 0.21 percent to a level of Rp14,160 per US dollar (US).

Head of Research at Monex Investindo Futures, Ariston Tjendra, said that the rupiah would still be under pressure today following negative external sentiment.

"That is the concern over the spread of the new variant of the COVID-19 virus from the UK and the increasing number of COVID-19 cases in the world," Ariston told VOI.

This new variant, according to him, raises the question of whether the newly developed vaccine can effectively prevent the spread of this new variant.

"The increase in covid cases has prompted several countries to limit activities, which has the potential to slow down economic recovery," he said.

Today, said Ariston, the rupiah has the potential to move in the range of IDR 14,100-14,180 per US dollar.