Opening 10 Points Higher, Rupiah Today Will Be Under Pressure Due To Certainty Of Recession

Illustrated. (Irfan Meidianto / VOI)

JAKARTA - The rupiah exchange rate on the spot market opened stronger on Wednesday, September 23 trading. The rupiah opened up 10 points to a level of Rp14,775 per US dollar (US).

Even though it opened higher, the rupiah looked depressed and finally weakened after 25 minutes of trading. At 09:25, the rupiah seemed to have weakened 7 points to a level of Rp14,792 per US dollar.

Head of Research at Monex Investindo Futures, Ariston Tjendra, said that sentiment on the strengthening of the US dollar was still visible in the financial markets after the testimony of the Governor of the US Central Bank before the Congress which revealed that the economy was still full of uncertainty.

"The rupiah has the potential to be under pressure against the US dollar today," Ariston told VOI.

On the other hand, he said, from within the country, the certainty of a recession could also put pressure on the rupiah today.

"The rupiah today has the potential to move in the range of Rp14,750-14,850 per US dollar," said Ariston.

For information, yesterday, Tuesday, September 22, the rupiah exchange rate weakened by 0.58 percent to Rp14,785 per US dollar.

Meanwhile, at the middle rate of Bank Indonesia (BI) or Jisdor, the rupiah weakened 0.4 percent to a level of Rp14,782 per US dollar.