Dropped Again, The Rupiah Was Opened On Tuesday To Weaken 35 Points To Rp14,185 Per US Dollar

JAKARTA - The rupiah exchange rate on the spot market has reopened to weaken. On Tuesday, June 23 trading, the rupiah opened down 35 points to a level of Rp14,185 per US dollar (US).

Based on VOI monitoring at 9:20 a.m., the rupiah slipped further to a level of Rp. 14,200 per US dollar, or weakened by 50 points (0.36 percent).

Head of Research at Monex Investindo Futures, Ariston Tjendra, said that some market players are still worried about the increase in the number of positive cases in the world and the second wave in several countries that have reopened their economies.

"This sentiment still has the opportunity to put pressure on the prices of risky assets in Asian market hours today. The rupiah is still likely to be under pressure because of this sentiment," Ariston told VOI.

This morning, he said, the market got the latest news that gave negative sentiment from the results of an interview with US government trade adviser Peter Navarro with Fox News that the trade agreement with China has "ended".

"This interview shows that the US-China relationship is still heating up and threatens the implementation of the trade agreement that has been agreed upon," explained Ariston.

According to him, the rupiah could weaken again today with the potential to reach the Rp14,200 area and support around Rp14,050 per US dollar.

This morning, currencies in the Asian region were mixed in front of the US dollar. The weakening was led by the rupiah followed by the Chinese yuan which weakened 0.11 percent.

Then the Japanese yen and Singapore dollar fell 0.06 percent, and the Philippine peso fell 0.04 percent.

Meanwhile, the strengthening currency was led by the South Korean won which strengthened 0.49 percent. Followed by the Indian rupee which strengthened 0.22 percent and the Taiwan dollar which strengthened 0.05 percent.