Weekend Rupiah Unpowered, Weakening 0.48 Percent To Rp14,243 Per US Dollar

Rupiah illustration. (Photo: Bank Indonesia)

JAKARTA - The rupiah exchange rate is again weak. On Friday, March 6, the rupiah closed down 0.48 percent to Rp14,243 per US dollar.

Monex Investindo Futures Head Researcher Ariston Tjendra said the corona virus still dominates sentiment on the financial market. According to him, this has pushed the market back out of risky assets.

He added that President Trump said in an interview Thursday that the coronavirus would put pressure on the US economy. The number of deaths and COVID-19 cases in the US will continue to grow.

"China's growth rate in the first quarter of 2020 will also be depressed quite deeply," Ariston told VOI.

With this weakening, the rupiah became the second currency in Asia to weaken the most. The first position was occupied by the South Korean won, which fell 0.92 percent against the US dollar. In addition, the Indian rupee was also eroded 0.40 percent.

Following, the Malaysian ringgit and the Taiwan dollar weakened 0.29 percent and 0.25 percent, respectively. The Philippine peso is also in the red zone after dropping 0.14 percent.

Meanwhile, the Thai baht became the most powerful currency after rising 0.41 percent against the US dollar. Followed by the Japanese yen which strengthened 0.36 percent.

The Singapore dollar and Chinese yuan also managed to lift 0.15 percent and 0.04 percent, respectively. Furthermore, the Hong Kong dollar edged up 0.02 percent.