Rupiah Continues To Be Mighty, This Morning Observed To Touch IDR 13,624 Per US Dollar

Illustration. (Photo: Bank Indonesia)

JAKARTA - The rupiah exchange rate on the spot market on Thursday, January 23 this morning was opened stronger. The rupiah strengthened 5 points or 0.04 percent to a level of Rp13,641 per US dollar.

According to VOI, at 9:35 a.m., the rupiah was getting stronger. Observed, the rupiah strengthened 0.16 percent to Rp13,624 per US dollar

However, Head of Research at Monex Investindo Futures, Ariston Tjendra, said that negative sentiment towards risky assets was back in the shadow of the rupiah movement this morning.

"Currently, the Asian stock index is moving down. Probably due to concerns over the spread of the corona virus. China has reported an additional death toll from this virus. The rupiah could be affected," Ariston told VOI, Thursday, January 23.

But on the other hand, he said, the decline in yields on US bonds put pressure on the US dollar which could encourage the strengthening of the rupiah again.

"Today the market is waiting for the results of the BI governor board (RDG) meeting. The consensus is that there is no cut in interest rates, but this could be a cut, considering that US yields also continue to fall due to the Fed's intervention in the money market," he said.

He also estimated that today's rupiah movement would be in the range of IDR 13,600-13,700 per US dollar.