Waiting For The Results Of The BI RDG, The Rupiah Weakened To A Level Of Rp15,700 Per US Dollar

JAKARTA - The rupiah exchange rate on the spot market was opened lower on trading Tuesday, April 14. The rupiah opened lower by 0.45 percent or 70 points to a level of Rp15,700 per US dollar.

Rupiah has turned lower after the last few days in a strengthening trend. Monex Investindo Futures Head Researcher, Ariston Tjendra, said that market sentiment was actually quite positive this morning with Asian stock indexes and US stock index futures moving positively this morning.

However, today's movement in the rupiah is also awaiting Bank Indonesia's monetary policy decision today.

"BI is likely to cut interest rates by 25 basis points to provide stimulus to the market because of the negative impact of the COVID-19 outbreak on the Indonesian economy," Ariston told VOI.

According to him, this policy of cutting is also in line with the Fed's continued interest rate cut, which is already close to 0 percent. This, said Ariston, was to help the country's economic recovery and could have a positive impact on the rupiah.

Previously the market will see the results of China's Trade Balance data for March. This data can be a negative sentiment to risky assets if the results are worse than estimates.

"Today's rupiah has the potential to move in the range of Rp15,500-15,800 per US dollar," he explained.