Tuesday Rupiah Closed Slightly Weakening 0.08 Percent To Rp14,162 Per US Dollar
JAKARTA - The rupiah exchange rate on the spot market managed to close down slightly on today's trading, Tuesday 23 June. The rupiah closed down 0.08 percent or 12 points to the level of Rp14,162 per US dollar.
Monex Investindo Futures Head of Research, Ariston Tjendra previously said that the weakening of the rupiah occurred because some market players were still worried about the increase in the number of positive cases of COVID-19 in the world and the second wave in several countries that had reopened their economies.
This sentiment still has the opportunity to suppress the prices of risky assets. The rupiah also felt pressure because of this sentiment.
In addition, this morning 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 the US-China relationship is still heating up and threatens the implementation of the trade agreement that has been agreed upon.
Until 15:00 WIB, the majority of currencies in the Asian region are in the green zone. The Japanese yen became the region's deepest weaker currency after dropping 0.18 percent. Even though throughout the day the rupiah was always at the bottom. Furthermore, there is the Philippine peso which is also still down 0.08 percent.
Meanwhile, the South Korean won was still the biggest strengthening currency today after gaining 0.55 percent against the US dollar. Next came the Indian rupee, which rose 0.44 percent.
Furthermore, there was the Singapore dollar which appreciated 0.10 percent and the Taiwan dollar which rose by 0.07 percent. Then the Malaysian ringgit managed to strengthen 0.06 percent and the Chinese yuan rose 0.04 percent.
The same thing happened to the Thai baht which made it into the green zone after gaining 0.02 percent. Meanwhile, the Hong Kong dollar at home has strengthened slightly by 0.008 percent.