On Thursday, Rupiah Weakened Slightly To Rp14,125 Per US Dollar

JAKARTA - The rupiah exchange rate was opened to weaken slightly at the start of trading on Thursday, March 5. The rupiah opened lower by 0.08 percent to a level of Rp14,125 per US dollar (US).

However, the Director of TRFX Garuda Berjangka Ibrahim assessed that the effect of the stimulus from BI is still continuing today, especially with the addition of the US central bank (Federal Reserve / The Fed) which surprised the market by cutting its benchmark interest rate by 50 basis points (bps) to 1-1. 25 percent on Tuesday morning local time.

"Sentiment from market players was raised, and they returned to assets with high yields, one of which was the rupiah," he said in his research.

Both BI and the Fed are taking quick steps to help the economy be spurred faster due to the corona virus outbreak which is predicted to suppress global economic growth.

In trading this Thursday, the rupiah is expected to strengthen at the level of Rp13,990-Rp14,200 per US dollar.

This morning, Asian currencies were mixed. The rupiah weakened along with the yuan, baht, peso, Singapore dollar and Taiwan dollar. Meanwhile, the yen, ringgit, won and Hong Kong dollar strengthened against the US dollar this morning.