On Tuesday Morning, Rupiah Strengthens To Rp. 13,655 Per US Dollar

Rupiah illustration. (Photo: Bank Indonesia)

JAKARTA - Rupiah on the spot market opened slightly higher at the opening of trading on Tuesday, February 18th. The rupiah strengthened 0.04 percent to the level of Rp13,655 per US dollar.

Monex Investindo Futures Head Researcher, Ariston Tjendra said, the rupiah may weaken today following the weakening of the Dow Jones stock index overnight and Asia this morning due to fears of an economic slowdown due to corona.

"The market seems to be turning to safe assets. The price of gold as a safe haven asset is also seen strengthening to the area of US $ 1,587 per troy ounce this morning, up 0.37 percent compared to yesterday's close," Ariston told VOI.

He predicts that the rupiah will move in the range of IDR 13,650-13,720 per US dollar in today's trading.

This morning, currency movements in the region also tended to be mixed. The Japanese yen was the biggest strengthening currency against the US dollar after gaining 0.10 percent.

Following this, the Taiwan dollar lifted 0.04 percent and the Hong Kong dollar rose 0.004 percent.

Meanwhile, the Korean won was the currency with the deepest weakness after falling 0.25 percent. In the next position there is the Malaysian ringgit which weakened 0.12 percent.

The Singapore dollar and Thai baht are also in the red zone after dropping 0.09 percent and 0.07 percent respectively. The Philippine peso also recorded a decline of 0.06 percent.