On Thursday, Rupiah Was Opened To Slightly Gain 0.04 Percent To Rp13,934 Per US Dollar

Rupiah illustration. (Photo: Bank Indonesia)

JAKARTA - The rupiah exchange rate on the spot market has reopened to weaken. The rupiah opened Thursday, February 27, and was slightly stronger by 6 points or 0.04 percent at the level of Rp13,934 per US dollar.

However, VOI's monitoring at 8:37 a.m., the rupiah weakened. The rupiah weakened 0.07 percent to a level of Rp13,950 per US dollar.

Head of Research at Monex Investindo Futures, Ariston Tjendra, said that even though the rupiah strengthened, market concerns had not changed. "Still because of concerns about the spread of corona virus infection to countries outside China," Ariston told VOI.

This concern, he continued, was also shown by the weakening of the 10-year US government bond yield to an all-time low of around 1.29 percent. "This means that many market players buy these bonds," he said.

Today, he predicts the rupiah has the potential to break the Rp14,000 level. The rupiah will move in the range of IDR 13,900-14,000.

The trend of negative movement in the rupiah exchange rate in the last eight days is expected to continue today. The reason is, there is no new sentiment, either from internal or external.

The sentiment driving the rupiah currently only comes from the spread of the corona virus. As a result, the trend of the rupiah's movement will not change much, which will continue to be a negative trend.