Tuesday Morning Rupiah Moves Stronger At Rp13,658 Per US Dollar

Illustration. (Photo: Bank Indonesia)

JAKARTA - The rupiah exchange rate was opened stronger at the opening of trading on Wednesday 12 February. The rupiah strengthened 17 points or 0.12 percent to the level of Rp13,658 per US dollar.

According to VOI, at 9:20 a.m., the rupiah was still at the same level. The strengthening of the rupiah this morning, according to Monex Investindo Futures Research Head, Ariston Tjendra, was due to the statement of the Governor of the US Central Bank, Jerome Powell.

"Powell's statement last night could give positive sentiment to risk assets including the rupiah because the US economy as the largest economy in the world is still strong until now, there are no signs of a recession," Ariston told VOI.

But on the other hand, he continued, Powell also expressed his concern about the corona virus for global economic growth.

"S&P in its analysis also said that the corona virus could suppress the global economic growth rate by 0.3 percent and China by 0.5-1 percent," he explained.

The White House's security adviser, Robert O'brien, also stressed the negative impact of the corona virus on the implementation of the US China trade agreement Phase 1.

"All of the above events can put pressure on the rupiah as a risky asset. However, the rupiah still benefits because our country still has no confirmed cases of being infected with the corona virus," concluded Ariston.

He predicts that the rupiah will move in the range of IDR 13,630-13,680 per US dollar today.