Tuesday Morning Rupiah Weakened To Approximately IDR 15,000 Per US Dollar

JAKARTA - The rupiah exchange rate on the spot market opened lower in early trading Tuesday, May 12. Based on VOI monitoring at 09:13 WIB, the rupiah on the spot market was at Rp 14,950 per US dollar (US), or a decrease of 0.40 percent compared to the previous closing level of Rp14,895 per US dollar.

Monex Investindo Futures Head of Research, Ariston Tjendra said, it seems that negative sentiment has entered the financial market this morning because the market is worried about a second wave of COVID-19 cases in a country that is loosening lockdowns.

"This morning China reported an additional 15 cases of OTG and 1 positive case. Yesterday China also reported an additional 5 new cases," said Ariston to VOI.

Other countries such as South Korea and Germany also reported additional positive cases after easing lockdowns. This negative sentiment can encourage the weakening of risky assets.

"The rupiah also has the potential to weaken today towards resistance at Rp15,150 with potential support at 14,800 per US dollar," he said.

This morning in the Asian region, the rupiah weakened along with the majority of other currencies. The South Korean won led the weakening of Asian currencies against the US dollar this morning with a decrease of 0.57 percent, followed by the Malaysian ringgit which weakened 0.39 percent, the Indian rupee weakened 0.24 percent, the Singapore dollar weakened 0.13 percent, the Taiwan dollar weakened 0 , 12 percent, the Philippine peso was down 0.10 percent, and the Hong Kong dollar was down 0.005 percent against the US dollar.

Meanwhile the Japanese yen and Thai baht strengthened against the US dollar by 0.14 percent and 0.8 percent respectively.