Rupiah Almost Weakened Back To IDR 14,000

Rupiah illustration. (Photo: Bank Indonesia)

JAKARTA - The exchange rate in recent days has been in a weakening trend and is almost moving towards the level of Rp14,000 per US dollar (US). Today alone, Wednesday 26 February, the rupiah exchange rate on the spot market weakened 0.39 percent or 53.5 points to Rp13,940 per US dollar.

Head of Research at Monex Investindo Futures, Ariston Tjendra, said WHO had warned that the corona virus outbreak could change from an epidemic to a pandemic.

"This warning warns of the possibility that the corona problem could grow and this adds to market concerns and has an impact on the rupiah and other risky assets," Ariston told VOI.

Likewise, Bank Mandiri economist Reny Eka Putri also has the same opinion. The corona virus that has not yet met a bright spot will make market players shift their eyes to safe haven assets such as the US dollar.

"From the internal side, there are no catalysts that might be able to hold back the weakening of the rupiah. Floods in Jakarta have resulted in decreased trading volume, this is not something positive in the eyes of investors, "he said.