Rupiah Weakens Nine Days In A Row

JAKARTA - The rupiah exchange rate is increasingly helpless against the US dollar. At the opening of trading, Friday, February 28, the rupiah weakened again, and this is the nine days of weakness in a row.

Quoting Bloomberg at 8.14 WIB, the rupiah exchange rate on the spot market weakened 0.45 percent to a level of 14,088 per US dollar.

Head of Research at Monex Investindo Futures, Ariston Tjendra, said sentiment towards the rupiah had not improved.

"The pressure on risk assets due to the increasing spread of the corona virus outbreak outside China is still great," Ariston told VOI.

The yield on US government bonds with tenors continued to decline, indicating that many are buying these bonds to secure their asset value. Got to 1.235 percent, the lowest level of all time.

Bank Indonesia (BI) today again intervened in the foreign exchange market and trading bonds. The intervention carried out by BI could not bring the Garuda currency to strengthen.

However, what the central bank has done has given maximum efforts to contain the rate of depreciation of the rupiah.