The Rupiah Moves Up And Down Today Amid The Demonstration Of The Job Creation Law

Illustration. (Irfan Meidianto / VOI)

JAKARTA - The rupiah exchange rate on the spot market opened higher on trading Tuesday, October 13. The rupiah opened up slightly by 5 points or 0.03 percent to the level of Rp14,695 per US dollar.

However, the strengthening of the rupiah only lasted a moment. VOI monitored at 9:25 a.m., the rupiah moved down 0.14 percent to the level of Ro14,720 per US dollar.

"The rupiah will get a market mover from today's domestic events. Market players will be aware of today's demonstrations," said Monex Investindo Futures Research Head, Ariston Tjendra, to VOI .

According to him, controlled demonstrations could support the rupiah. However, it will be the other way around if the demo is chaotic.

On the other hand, externally, uncertainty over US fiscal stimulus could put pressure on the exchange rate of emerging markets, which are risky assets against the US dollar today.

"Today the rupiah is likely to weaken with the two sentiments above with a potential range of Rp14,650-14,800 per US dollar," he said.

This morning, the rupiah weakened along with the majority of other Asian currencies. The Philippine peso led the weakening of Asian currencies against the US dollar, weakening 0.31 percent.

Followed by the South Korean won which weakened 0.26 percent, the Thai baht weakened 0.21 percent, and the Malaysian ringgit weakened 0.20 percent.

Then the Indian rupee weakened 0.18 percent, the Chinese yuan weakened 0.17 percent, and the Hong Kong dollar weakened 0.001 percent against the US dollar.