Rupiah Weakens Slightly Wednesday Morning, Impact Of Concerns Still Crazy About COVID-19

JAKARTA - The rupiah exchange rate in the spot market was observed to weaken on Wednesday, August 04 morning. The craze for COVID-19 is still an "instrument" of concern for market participants.

According to VOI monitoring at 09.35 WIB, the rupiah weakened slightly by 1 point to the level of Rp. 13.34 per US dollar. On the previous day, the rupiah closed at Rp13,342 per US dollar.

Head of Research at Monex Investindo Futures, Ariston Tjendra, said that market concerns about the increase in global COVID-19 cases could put a brake on the strengthening of the rupiah exchange rate against the US dollar.

"This is because the market is still aware of the movement of Covid-19 cases in Indonesia, which is still showing an upward trend, even though the number of daily cases has fallen several times," Ariston told VOI.

Ariston projects that the rupiah will move in the range of Rp. 14,300 to Rp. 14,380 per US dollar in today's trading.

For information, currencies in Asia, which weakened against the US dollar at 09.35 WIB, in addition to the rupiah, were led by the Philippine peso, which fell 0.31 percent.

Followed by the Malaysian ringgit which weakened 0.18 percent. Then the Thai baht weakened 0.17 percent.