Rupiah Trying To Return To Around Rp.13,000, This Morning Was Opened Strongly

JAKARTA - The rupiah exchange rate on the spot market opened stronger on Monday, June 15 trading. The rupiah opened up 74 points to a level of Rp14,059 per US dollar (US).

Head of Research at Monex Investindo Futures, Ariston Tjendra, said the rupiah was finally under pressure last Friday after strengthening for 4 days.

"It seems that global financial market players are starting to anticipate the risk of a second wave of outbreaks due to the economic opening, as happened in the US and several other countries," Ariston told VOI.

The risk of the second wave, he said, pushed market players out of risky assets because of concerns that the economy would be restricted again.

"The market also responded negatively to the statement by the US Central Bank on Thursday morning that it was pessimistic that the global economy would recover quickly after the pandemic. The Fed said it would still provide stimulus to the economy until 2022," he explained.

Today, said Ariston, the negative sentiment above could continue. The rupiah could weaken again against the US dollar.

In addition, continued Aristin, Indonesia's trade balance is projected by many analysts to experience a slight surplus. But on the other hand, the market also sees a sharp decline in export and import activities in May compared to the same month last year due to the COVID-19 outbreak.

"So maybe this small surplus will not really affect the rupiah because trade data also shows a decrease in activity. The potential for today's movement in the rupiah is in the range of Rp. 14,050-14,300 per US dollar," he said.

This morning, other Asian currencies weakened against the US dollar. The South Korean won led the weakening of Asian currencies against the US dollar with a weakening of 0.37 percent, followed by the Malaysian ringgit which fell 0.32 percent, the Philippine peso fell 0.18 percent.

Then, the Singapore dollar weakened 0.15 percent, the Taiwan dollar weakened 0.09 percent, the Chinese yuan weakened 0.08 percent and the Indian rupee fell 0.08 percent against the US dollar.