On Thursday, Rupiah Closed Slightly Lower To Rp13,657 Per US Dollar

Illustration. (Photo: Pixabay)

JAKARTA - The rupiah exchange rate on the spot market was closed lower at the close of trading on Thursday 30 January. The rupiah weakened 23 points or 0.17 percent to a level of Rp13,657 per US dollar.

Head of Research at Monex Investindo Futures, Ariston Tjendra, said concerns about the corona virus were still the main sentiment so that market players were reluctant to enter risky assets.

"The exchange rate of emerging markets also weakened slightly against the US dollar throughout the day, as well as the Nikkei and Hang Seng stock indexes," said Ariston to VOI, Thursday, January 30.

The results of S&P's research which stated that the corona virus would cut China's economic growth by 1.2 percent further depreciating the rupiah.

On the other hand, Bank Indonesia has also intervened so that the rupiah does not weaken too deeply. However, this has not been able to hold back the strengthening rate of the US dollar against the rupiah.

This depreciation of the rupiah is in line with the movements of the majority of currencies in the region. As of 4:15 p.m. WIB, the Korean won was the currency with the biggest drop against the US dollar after dropping 0.67 percent.

Similarly, the Taiwan dollar and Indian rupee fell 0.56 percent and 0.37 percent, respectively. Continued Thai baht fell 0.35 percent. Meanwhile, the Philippine peso was corrected 0.27 percent against the US dollar.

The Malaysian ringgit and Singapore dollar also depreciated 0.21 percent and 0.12 percent respectively. Meanwhile, the Japanese yen remained the currency that strengthened the most after rising 0.06 percent. The Hong Kong dollar also managed to outperform the US dollar by up 0.06 percent.