The Rupiah This Morning Was Observed Weakening To IDR 13,657 Per US Dollar

Illustration. (Photo: Bank Indonesia)

JAKARTA - The rupiah exchange rate on the spot market this morning, Tuesday, January 21, opened in the red zone. Rupaih weakened 5 points or 0.04 percent to the level of IDR13,644 per US dollar.

According to VOI, at 9:25 a.m., the rupiah was still moving weaker. The rupiah exchange rate was recorded at IDR 13,657 per US dollar.

Head of Research at Monex Investindo Futures, Ariston Tjendra, said that even though it opened lower, he was optimistic that the rupiah would rebound again this afternoon.

"The positive sentiment from the signing of the US China trade relations will still support the strengthening of the rupiah today," said Ariston.

However, he continued, market players must be aware of the negative sentiment from the prediction from the IMF regarding slowing global economic growth. The IMF cut its 2020 global growth forecast from 3.4 percent to 3.3 percent due to slowing growth in India and emerging markets.

"This negative sentiment could hold back the strengthening of the rupiah against the US dollar," said Ariston.

He also predicts that the rupiah will move in the range of IDR 13,600-13,700 per US dollar today.